Allspring Global Investments Holdings LLC decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 20.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 528,879 shares of the technology company's stock after selling 136,255 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.62% of The Descartes Systems Group worth $53,833,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in DSGX. NBC Securities Inc. purchased a new position in The Descartes Systems Group during the first quarter worth about $25,000. GeoWealth Management LLC raised its holdings in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after purchasing an additional 132 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in The Descartes Systems Group during the fourth quarter worth about $43,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $57,000. Finally, Optiver Holding B.V. purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 77.73% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Barclays dropped 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 report on Thursday, June 5th. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Scotiabank increased their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research report on Wednesday, March 26th. BMO Capital Markets lowered their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research report on Thursday, March 6th. Finally, Stephens lowered their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and a consensus target price of $123.40.
Read Our Latest Stock Analysis on The Descartes Systems Group
The Descartes Systems Group Stock Performance
Shares of NASDAQ DSGX opened at $101.44 on Monday. The Descartes Systems Group Inc. has a 1 year low of $90.61 and a 1 year high of $124.31. The firm's 50 day moving average price is $106.86 and its 200 day moving average price is $108.73. The firm has a market cap of $8.70 billion, a P/E ratio of 61.11 and a beta of 0.87.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same quarter last year, the business posted $0.40 EPS. The firm's revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
The Descartes Systems Group Profile
(
Free Report)
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.
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