LPL Financial LLC Buys 1,646 Shares of The Descartes Systems Group Inc. $DSGX

LPL Financial LLC raised its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,021 shares of the technology company’s stock after purchasing an additional 1,646 shares during the period. LPL Financial LLC’s holdings in The Descartes Systems Group were worth $2,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in shares of The Descartes Systems Group by 42.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company’s stock worth $748,000 after buying an additional 1,977 shares during the last quarter. Cerity Partners LLC boosted its holdings in The Descartes Systems Group by 44.9% in the fourth quarter. Cerity Partners LLC now owns 3,497 shares of the technology company’s stock worth $392,000 after acquiring an additional 1,084 shares in the last quarter. NewEdge Advisors LLC grew its position in The Descartes Systems Group by 10.9% during the 4th quarter. NewEdge Advisors LLC now owns 3,427 shares of the technology company’s stock worth $389,000 after purchasing an additional 336 shares during the last quarter. GeoWealth Management LLC increased its position in shares of The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after acquiring an additional 132 shares during the period. Finally, Freedom Investment Management Inc. purchased a new position in shares of The Descartes Systems Group in the fourth quarter worth about $255,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Up 0.4%

NASDAQ DSGX opened at $98.65 on Tuesday. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 59.43 and a beta of 0.81. The stock has a 50-day moving average of $102.35 and a 200 day moving average of $105.66. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its 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 return on equity of 10.53% and a net margin of 21.67%. 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 company earned $0.40 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of several recent research reports. Wall Street Zen downgraded shares of The Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Royal Bank Of Canada decreased their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a research report on Thursday, June 5th. Barclays cut 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. Finally, Morgan Stanley started coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.