The Descartes Systems Group Inc. $DSGX Stock Holdings Lifted by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in The Descartes Systems Group by 1.9%, now owning approximately 0.57% of the company valued at around $49.23 million.
• The Descartes Systems Group reported a quarterly earnings miss, with an EPS of $0.41 compared to the expected $0.46, and its revenue was up 11.5% year-over-year.
• Currently, The Descartes Systems Group has a market capitalization of $8.56 billion and a consensus rating of "Moderate Buy" among analysts.

Ameriprise Financial Inc. lifted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 488,271 shares of the technology company's stock after acquiring an additional 9,023 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.57% of The Descartes Systems Group worth $49,232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in The Descartes Systems Group by 9,983.0% during the 1st quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock valued at $5,134,000 after purchasing an additional 50,414 shares during the period. American Century Companies Inc. grew its holdings in shares of The Descartes Systems Group by 5.9% during the first quarter. American Century Companies Inc. now owns 223,925 shares of the technology company's stock valued at $22,543,000 after buying an additional 12,571 shares in the last quarter. Mackenzie Financial Corp raised its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after buying an additional 2,800,492 shares during the period. Bank of New York Mellon Corp lifted its stake in The Descartes Systems Group by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock worth $12,940,000 after acquiring an additional 3,316 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in The Descartes Systems Group by 11.8% in the 4th quarter. Northern Trust Corp now owns 80,737 shares of the technology company's stock worth $9,172,000 after acquiring an additional 8,537 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $99.70 on Thursday. The company has a market capitalization of $8.56 billion, a P/E ratio of 60.06 and a beta of 0.81. The stock's 50 day moving average price is $102.35 and its 200 day moving average price is $104.93. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The business had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business's revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of several research analyst reports. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada lowered their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective on the stock. Finally, Barclays decreased their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.

Want to see what other hedge funds are holding DSGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.