The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,335 shares of the technology company’s stock after buying an additional 3,316 shares during the period. Bank of New York Mellon Corp owned approximately 0.15% of The Descartes Systems Group worth $12,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cidel Asset Management Inc. raised its stake in shares of The Descartes Systems Group by 0.4% in the 1st quarter. Cidel Asset Management Inc. now owns 107,911 shares of the technology company’s stock worth $10,862,000 after buying an additional 443 shares in the last quarter. Impact Investors Inc lifted its holdings in shares of The Descartes Systems Group by 22.9% during the first quarter. Impact Investors Inc now owns 5,280 shares of the technology company’s stock valued at $532,000 after purchasing an additional 984 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of The Descartes Systems Group by 9.8% during the first quarter. Bessemer Group Inc. now owns 235,879 shares of the technology company’s stock valued at $23,782,000 after purchasing an additional 21,143 shares during the last quarter. Yorktown Management & Research Co Inc lifted its holdings in shares of The Descartes Systems Group by 31.7% during the first quarter. Yorktown Management & Research Co Inc now owns 10,800 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of The Descartes Systems Group during the first quarter valued at $141,000. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 0.2%

NASDAQ:DSGX opened at $105.09 on Monday. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 63.31 and a beta of 0.82. The Descartes Systems Group Inc. has a 1-year low of $90.61 and a 1-year high of $124.31. The business’s fifty day moving average price is $106.07 and its 200 day moving average price is $107.41.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reduced their target price on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, June 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an “equal weight” rating and a $110.00 target price for the company. Scotiabank upped their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. Barclays reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. Finally, Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.18.

The Descartes Systems Group 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.