Whittier Trust Co. of Nevada Inc. Buys 2,976 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Whittier Trust Co. of Nevada Inc. increased its holdings in The Descartes Systems Group Inc. by 15.3% in the second quarter, acquiring an additional 2,976 shares valued at approximately $2,273,000.
• The company reported $0.43 EPS for the quarter, missing estimates by $0.06, while revenue grew by 10.0% year-over-year, totaling $178.98 million.
• Analyst ratings for Descartes Systems Group include a consensus Moderate Buy with a target price of around $121.80, highlighting positive trends in institutional investments.

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,368 shares of the technology company's stock after purchasing an additional 2,976 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in The Descartes Systems Group were worth $2,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DSGX. Cullen Frost Bankers Inc. bought a new position in shares of The Descartes Systems Group during the first quarter valued at $49,000. Parallel Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock valued at $59,000 after purchasing an additional 152 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock valued at $63,000 after purchasing an additional 117 shares in the last quarter. Hilltop National Bank bought a new position in shares of The Descartes Systems Group during the second quarter valued at $215,000. Finally, Vident Advisory LLC bought a new position in shares of The Descartes Systems Group during the first quarter valued at $220,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $97.36 on Wednesday. The stock has a fifty day moving average of $99.15 and a 200 day moving average of $102.97. The stock has a market cap of $8.37 billion, a PE ratio of 57.61 and a beta of 0.77. The Descartes Systems Group Inc. has a one year low of $91.00 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to analysts' expectations of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The business's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DSGX. TD Cowen reaffirmed a "buy" rating and set a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Wall Street Zen upgraded The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. TD Securities initiated coverage on The Descartes Systems Group in a research report on Friday, October 3rd. They set a "buy" rating and a $121.00 price objective for the company. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of The Descartes Systems Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $121.80.

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.

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