The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9,983.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,919 shares of the technology company’s stock after purchasing an additional 50,414 shares during the period. GAMMA Investing LLC owned 0.06% of The Descartes Systems Group worth $5,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of DSGX. Mackenzie Financial Corp increased its position in The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the period. Norges Bank acquired a new position in shares of The Descartes Systems Group during the fourth quarter valued at $126,918,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after purchasing an additional 639,848 shares during the period. Praesidium Investment Management Company LLC acquired a new position in shares of The Descartes Systems Group during the fourth quarter valued at $54,724,000. Finally, Franklin Resources Inc. increased its holdings in shares of The Descartes Systems Group by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after purchasing an additional 326,643 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on DSGX. Barclays lowered their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 5th. Royal Bank of Canada lowered their target price on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a report on Thursday, June 5th. Scotiabank lifted their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. BMO Capital Markets lowered their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Finally, CIBC lowered their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.40.

The Descartes Systems Group Trading Down 0.3%

DSGX stock opened at $100.14 on Wednesday. The business’s 50-day moving average price is $106.87 and its two-hundred day moving average price is $110.44. The firm has a market cap of $8.57 billion, a PE ratio of 62.98 and a beta of 0.87. The Descartes Systems Group Inc. has a 1-year low of $90.61 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its 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 21.80% and a return on equity of 10.65%. The firm had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The company’s revenue was up 11.5% on a year-over-year basis. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.