Bank of New York Mellon Corp Acquires 3,316 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Bank of New York Mellon Corp lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,335 shares of the technology company's stock after purchasing an additional 3,316 shares during the period. Bank of New York Mellon Corp owned 0.15% of The Descartes Systems Group worth $12,940,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of The Descartes Systems Group during the 1st quarter worth about $25,000. GeoWealth Management LLC increased its stake in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth about $57,000. Optiver Holding B.V. acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth about $66,000. Finally, Johnson Financial Group Inc. increased its stake in shares of The Descartes Systems Group by 830.9% during the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock worth $101,000 after purchasing an additional 781 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 0.9%

NASDAQ DSGX traded up $0.90 during trading on Thursday, reaching $106.45. The company's stock had a trading volume of 362,993 shares, compared to its average volume of 443,730. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 64.13 and a beta of 0.82. The Descartes Systems Group Inc. has a 12 month low of $90.61 and a 12 month high of $124.31. The firm has a 50 day moving average price of $105.43 and a 200 day moving average price of $107.26.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data 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 business 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 revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on DSGX shares. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Royal Bank Of Canada reduced their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Stephens reduced their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Barclays reduced 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. Finally, Morgan Stanley started coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price for the company. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

About The Descartes Systems Group

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.