The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 48.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,298 shares of the technology company’s stock after buying an additional 425 shares during the period. Federated Hermes Inc.’s holdings in The Descartes Systems Group were worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in DSGX. Operose Advisors LLC acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $35,000. Signaturefd LLC increased its stake in The Descartes Systems Group by 26.7% during the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after buying an additional 147 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $209,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of The Descartes Systems Group by 19.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock valued at $228,000 after acquiring an additional 500 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of The Descartes Systems Group in the third quarter worth approximately $253,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $97.11 on Tuesday. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $97.29. The stock has a market capitalization of $8.28 billion, a P/E ratio of 72.47 and a beta of 0.91. The firm’s 50-day moving average is $91.42 and its two-hundred day moving average is $85.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same period in the prior year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DSGX shares. Raymond James increased their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Scotiabank raised their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research note on Thursday, March 7th. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price objective on shares of The Descartes Systems Group in a report on Thursday, April 11th. Finally, Wolfe Research upgraded The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.44.

The Descartes Systems Group Company Profile

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.