Vanguard Group Inc. Acquires 69,260 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Vanguard Group Inc. increased its stake in The Descartes Systems Group by 2.0% in Q4, buying 69,260 shares to hold 3,602,652 shares—about a 4.19% ownership position valued at $316.05 million.
• Descartes beat Q earnings expectations with $0.52 EPS vs. $0.50 consensus and reported revenue of $192.37 million (up 15.1% year-over-year) with a 22.47% net margin.
• Analysts give the stock a consensus rating of Moderate Buy with a $105.45 price target, reflecting 1 Strong Buy, 9 Buy, 2 Hold and 1 Sell amid several recent price-target cuts.

Vanguard Group Inc. grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,602,652 shares of the technology company's stock after acquiring an additional 69,260 shares during the quarter. Vanguard Group Inc. owned 4.19% of The Descartes Systems Group worth $316,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new position in shares of The Descartes Systems Group in the third quarter valued at $27,000. Mather Group LLC. acquired a new position in shares of The Descartes Systems Group in the third quarter valued at $28,000. Danske Bank A S acquired a new position in shares of The Descartes Systems Group in the third quarter valued at $34,000. Measured Wealth Private Client Group LLC acquired a new position in shares of The Descartes Systems Group in the third quarter valued at $40,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company's stock valued at $52,000 after purchasing an additional 401 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on DSGX. Rothschild & Co Redburn upgraded The Descartes Systems Group from a "neutral" rating to a "buy" rating and cut their target price for the company from $100.00 to $90.00 in a research note on Thursday, April 16th. Morgan Stanley cut their target price on The Descartes Systems Group from $115.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, March 12th. Weiss Ratings lowered The Descartes Systems Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, April 9th. Scotiabank dropped their price objective on The Descartes Systems Group from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, February 4th. Finally, Zacks Research lowered The Descartes Systems Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.45.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $73.38 on Friday. The stock has a fifty day moving average price of $70.91 and a two-hundred day moving average price of $78.73. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35. The firm has a market capitalization of $6.31 billion, a P/E ratio of 39.45 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The firm had revenue of $192.37 million during the quarter, compared to analyst estimates of $188.09 million. During the same period in the prior year, the company posted $0.43 earnings per share. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts predict that The Descartes Systems Group Inc. will post 2.62 EPS for the current fiscal year.

The Descartes Systems Group Company 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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