Raymond James Trust N.A. increased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,143 shares of the technology company's stock after acquiring an additional 196 shares during the period. Raymond James Trust N.A.'s holdings in The Descartes Systems Group were worth $319,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. New Century Advisors LLC increased its holdings in shares of The Descartes Systems Group by 74.1% in the 1st quarter. New Century Advisors LLC now owns 416 shares of the technology company's stock worth $30,000 after acquiring an additional 177 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of The Descartes Systems Group in the 1st quarter worth about $117,000. Van ECK Associates Corp increased its holdings in shares of The Descartes Systems Group by 15.9% in the 1st quarter. Van ECK Associates Corp now owns 2,068 shares of the technology company's stock worth $151,000 after acquiring an additional 284 shares during the period. HighTower Advisors LLC acquired a new stake in shares of The Descartes Systems Group in the 4th quarter worth about $212,000. Finally, Congress Asset Management Co. MA acquired a new position in The Descartes Systems Group during the 1st quarter valued at about $202,000. Institutional investors and hedge funds own 80.28% of the company's stock.
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Wall Street Analyst Weigh In
DSGX has been the topic of several research analyst reports. CIBC cut shares of The Descartes Systems Group from a "sector outperform" rating to a "neutral" rating and lowered their target price for the company from $89.00 to $71.00 in a research note on Monday, June 27th. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, September 1st. Stephens lowered their target price on shares of The Descartes Systems Group to $80.00 in a research note on Friday, June 3rd. BMO Capital Markets lowered their target price on shares of The Descartes Systems Group from $81.00 to $68.00 in a research note on Thursday, June 2nd. Finally, Canaccord Genuity Group raised their price objective on shares of The Descartes Systems Group from $74.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, September 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $76.22.
The Descartes Systems Group Trading Up 1.6 %
NASDAQ:DSGX opened at $64.30 on Wednesday. The Descartes Systems Group Inc. has a twelve month low of $56.19 and a twelve month high of $91.39. The company has a 50-day moving average of $68.88 and a 200-day moving average of $66.16. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 60.66 and a beta of 1.03.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last released its earnings results on Wednesday, September 7th. The technology company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $123.01 million for the quarter, compared to the consensus estimate of $118.72 million. The Descartes Systems Group had a net margin of 19.69% and a return on equity of 8.97%. The firm's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.1 earnings per share for the current year.
The Descartes Systems Group Profile
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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.
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