Yorktown Management & Research Co Inc grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 31.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,800 shares of the technology company's stock after buying an additional 2,600 shares during the quarter. The Descartes Systems Group comprises 1.2% of Yorktown Management & Research Co Inc's investment portfolio, making the stock its 6th biggest holding. Yorktown Management & Research Co Inc's holdings in The Descartes Systems Group were worth $1,089,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. NBC Securities Inc. acquired a new position in The Descartes Systems Group during the first quarter worth about $25,000. GeoWealth Management LLC boosted 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 acquiring an additional 132 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group in the 4th quarter worth approximately $43,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in The Descartes Systems Group in the 4th quarter valued at approximately $57,000. Finally, Optiver Holding B.V. acquired a new position in The Descartes Systems Group during the fourth quarter worth $66,000. 77.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Barclays lowered their target price 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. BMO Capital Markets lowered their price objective 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 note on Thursday, March 6th. Stephens cut 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 research report on Wednesday, April 9th. Scotiabank upped 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 report on Wednesday, March 26th. Finally, Royal Bank Of Canada dropped their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Three investment 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $123.40.
Check Out Our Latest Stock Report on DSGX
The Descartes Systems Group Stock Down 2.7%
Shares of NASDAQ:DSGX traded down $2.83 during trading on Wednesday, reaching $100.60. The stock had a trading volume of 499,082 shares, compared to its average volume of 230,591. The stock has a market cap of $8.61 billion, a P/E ratio of 60.60 and a beta of 0.87. The business has a fifty day moving average price of $106.93 and a 200-day moving average price of $109.20. The Descartes Systems Group Inc. has a fifty-two week low of $90.61 and a fifty-two week high of $124.31.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company's revenue was up 11.5% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
The Descartes Systems Group Profile
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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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