Homestead Advisers Corp Boosts Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Homestead Advisers Corp raised its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 4.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 73,170 shares of the technology company's stock after acquiring an additional 3,200 shares during the period. Homestead Advisers Corp owned approximately 0.09% of The Descartes Systems Group worth $7,378,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DSGX. Commonwealth Equity Services LLC purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $207,000. Quantbot Technologies LP boosted its position in shares of The Descartes Systems Group by 511.9% during the fourth quarter. Quantbot Technologies LP now owns 20,902 shares of the technology company's stock valued at $2,374,000 after buying an additional 17,486 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $269,000. LPL Financial LLC boosted its position in shares of The Descartes Systems Group by 34.1% during the fourth quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock valued at $2,428,000 after buying an additional 5,435 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after buying an additional 54,341 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

Shares of DSGX traded up $0.63 during mid-day trading on Friday, hitting $107.08. The stock had a trading volume of 121,730 shares, compared to its average volume of 331,648. The firm has a market cap of $9.19 billion, a P/E ratio of 64.50 and a beta of 0.82. The business has a fifty day moving average price of $105.43 and a 200-day moving average price of $107.26. The Descartes Systems Group Inc. has a 52 week low of $90.61 and a 52 week high of $124.31.

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Royal Bank Of Canada cut their target price on 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. Stephens dropped their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Finally, Barclays dropped their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Company 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.