Lord Abbett & CO. LLC increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) by 23.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 511,656 shares of the technology company's stock after acquiring an additional 98,705 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.60% of The Descartes Systems Group worth $37,484,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. New Century Advisors LLC boosted its stake in The Descartes Systems Group by 74.1% during the first quarter. New Century Advisors LLC now owns 416 shares of the technology company's stock worth $30,000 after acquiring an additional 177 shares in the last quarter. Lazard Asset Management LLC boosted its stake in The Descartes Systems Group by 130.9% during the fourth quarter. Lazard Asset Management LLC now owns 1,039 shares of the technology company's stock worth $85,000 after acquiring an additional 589 shares in the last quarter. Prospera Financial Services Inc bought a new position in The Descartes Systems Group during the first quarter worth $117,000. Van ECK Associates Corp boosted its stake in The Descartes Systems Group by 15.9% during the first 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 in the last quarter. Finally, Congress Asset Management Co. MA bought a new position in The Descartes Systems Group during the first quarter worth $202,000. 80.28% of the stock is owned by institutional investors.
Get The Descartes Systems Group alerts:Analyst Upgrades and Downgrades
DSGX has been the topic of several research analyst reports. StockNews.com lowered shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, September 1st. Canaccord Genuity Group upped their price objective on shares of The Descartes Systems Group from $74.00 to $77.00 in a report on Thursday. CIBC downgraded shares of The Descartes Systems Group from a "sector outperform" rating to a "neutral" rating and lowered their price objective for the stock from $89.00 to $71.00 in a report on Monday, June 27th. Stephens lowered their price objective on shares of The Descartes Systems Group to $80.00 in a report on Friday, June 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of The Descartes Systems Group from $100.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, May 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.60.
The Descartes Systems Group Price Performance
Shares of DSGX stock opened at $67.46 on Friday. The firm has a 50-day moving average of $68.34 and a 200-day moving average of $66.57. The company has a market cap of $5.72 billion, a P/E ratio of 63.64 and a beta of 1.03. The Descartes Systems Group Inc. has a one year low of $56.19 and a one year high of $91.39.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 7th. The technology company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $123.01 million during the quarter, compared to analyst estimates of $118.72 million. The Descartes Systems Group had a net margin of 20.57% and a return on equity of 9.17%. The firm's revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.1 earnings per share for the current fiscal year.
About The Descartes Systems Group
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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.
Further Reading
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