The Descartes Systems Group Inc. $DSGX Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management increased its Descartes Systems Group stake by 640.7% in the second quarter, acquiring 1.18 million additional shares and ending with 1.36 million shares worth approximately $94.4 million. Institutional investors and hedge funds collectively own 77.73% of the company.
• Descartes reported quarterly earnings of $0.55 per share, beating estimates of $0.52, while revenue rose 14.7% year over year to $166.96 million. The stock opened at $80.43, with a market capitalization of $6.89 billion.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $102.54.

Wellington Management Group LLP boosted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 640.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,363,426 shares of the technology company's stock after acquiring an additional 1,179,345 shares during the period. Wellington Management Group LLP owned about 1.59% of The Descartes Systems Group worth $94,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DSGX. Jupiter Topco LLC bought a new stake in shares of The Descartes Systems Group in the 2nd quarter worth approximately $181,742,000. The Manufacturers Life Insurance Company bought a new position in The Descartes Systems Group during the 2nd quarter worth $141,403,000. Norges Bank bought a new position in The Descartes Systems Group during the 4th quarter worth $100,405,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in The Descartes Systems Group in the second quarter worth $58,755,000. Finally, Morgan Stanley lifted its stake in The Descartes Systems Group by 97.2% in the fourth quarter. Morgan Stanley now owns 1,584,393 shares of the technology company's stock valued at $138,888,000 after buying an additional 780,857 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Down 0.3%

The Descartes Systems Group stock opened at $80.43 on Wednesday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 40.22 and a beta of 0.62. The company's 50-day moving average price is $74.55 and its two-hundred day moving average price is $71.98.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same period in the prior year, the business posted $0.41 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts expect that The Descartes Systems Group Inc. will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an "outperformer" rating in a report on Thursday, June 4th. Raymond James Financial cut their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Monday, July 20th. Loop Capital restated a "buy" rating and issued a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, Weiss Ratings raised The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and an average target price of $102.54.

The Descartes Systems Group Profile

The Descartes Systems Group Inc NASDAQ: DSGX is a global provider of cloud-based logistics and supply chain management solutions. The company's software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes' modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.

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