Allspring Global Investments Holdings LLC Acquires New Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Allspring Global Investments Holdings LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,900 shares of the technology company’s stock, valued at approximately $1,995,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DSGX. Pathstone Family Office LLC raised its position in The Descartes Systems Group by 1.9% in the fourth quarter. Pathstone Family Office LLC now owns 8,530 shares of the technology company’s stock worth $590,000 after acquiring an additional 155 shares during the period. Squarepoint Ops LLC raised its position in The Descartes Systems Group by 4.7% in the fourth quarter. Squarepoint Ops LLC now owns 3,452 shares of the technology company’s stock worth $240,000 after acquiring an additional 156 shares during the period. Whittier Trust Co. raised its position in The Descartes Systems Group by 209.0% in the first quarter. Whittier Trust Co. now owns 309 shares of the technology company’s stock worth $25,000 after acquiring an additional 209 shares during the period. CIBC Private Wealth Group LLC raised its position in The Descartes Systems Group by 1.9% in the first quarter. CIBC Private Wealth Group LLC now owns 12,324 shares of the technology company’s stock worth $993,000 after acquiring an additional 225 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in The Descartes Systems Group by 6.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,750 shares of the technology company’s stock worth $233,000 after acquiring an additional 238 shares during the period. Institutional investors own 76.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DSGX. Scotiabank reiterated a “sector outperform” rating and issued a $86.00 price target on shares of The Descartes Systems Group in a research report on Friday, September 8th. Royal Bank of Canada increased their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 4th. Finally, Stephens increased their price objective on shares of The Descartes Systems Group from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.00.

The Descartes Systems Group Stock Performance

DSGX opened at $74.17 on Tuesday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 56.62 and a beta of 1.00. The company has a fifty day moving average of $73.44 and a 200 day moving average of $75.64. The Descartes Systems Group Inc. has a fifty-two week low of $64.23 and a fifty-two week high of $82.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 6th. The technology company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $143.39 million for the quarter, compared to analysts’ expectations of $139.95 million. The Descartes Systems Group had a net margin of 21.60% and a return on equity of 10.22%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. On average, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.33 earnings per share for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.