Yorktown Management & Research Co Inc lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 31.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,800 shares of the technology company's stock after buying an additional 2,600 shares during the quarter. The Descartes Systems Group makes up 1.2% of Yorktown Management & Research Co Inc's holdings, making the stock its 6th largest position. Yorktown Management & Research Co Inc's holdings in The Descartes Systems Group were worth $1,089,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP raised its holdings in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock worth $77,000 after purchasing an additional 182 shares during the period. Bank of New York Mellon Corp raised its holdings in The Descartes Systems Group by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 125,019 shares of the technology company's stock worth $14,202,000 after purchasing an additional 9,180 shares during the period. Impact Investors Inc acquired a new position in The Descartes Systems Group in the 4th quarter worth about $488,000. SBI Securities Co. Ltd. acquired a new position in The Descartes Systems Group in the 4th quarter worth about $43,000. Finally, Assetmark Inc. raised its holdings in The Descartes Systems Group by 58.7% in the 4th quarter. Assetmark Inc. now owns 9,268 shares of the technology company's stock worth $1,053,000 after purchasing an additional 3,429 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on DSGX shares. Barclays reduced their price target on 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. Stephens reduced their target price on 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. CIBC reduced their target price on 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. BMO Capital Markets reduced their target price on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a report on Thursday, March 6th. Finally, Scotiabank increased their target price on 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. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.40.
View Our Latest Research Report on DSGX
The Descartes Systems Group Price Performance
Shares of NASDAQ:DSGX traded down $0.64 during midday trading on Friday, hitting $101.44. The company had a trading volume of 646,148 shares, compared to its average volume of 234,052. The Descartes Systems Group Inc. has a twelve month low of $90.61 and a twelve month high of $124.31. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 61.11 and a beta of 0.87. The business's 50-day simple moving average is $106.86 and its 200-day simple moving average is $108.89.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS 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 company had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. During the same period in the prior year, the business posted $0.40 EPS. The Descartes Systems Group's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
The Descartes Systems Group Company 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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