The Descartes Systems Group Inc. $DSGX Stake Lessened by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 93.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,803 shares of the technology company’s stock after selling 185,693 shares during the quarter. Bessemer Group Inc.’s holdings in The Descartes Systems Group were worth $914,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC raised its holdings in shares of The Descartes Systems Group by 25.2% in the fourth quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock worth $35,402,000 after buying an additional 81,354 shares during the period. Norges Bank bought a new position in The Descartes Systems Group in the 4th quarter valued at $100,405,000. Vanguard Group Inc. increased its stake in The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after purchasing an additional 69,260 shares during the period. BNP Paribas Financial Markets lifted its position in shares of The Descartes Systems Group by 809.0% during the fourth quarter. BNP Paribas Financial Markets now owns 236,003 shares of the technology company’s stock worth $20,688,000 after purchasing an additional 210,041 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in shares of The Descartes Systems Group during the first quarter valued at $8,671,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on DSGX. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. Raymond James Financial lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Loop Capital restated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Canadian Imperial Bank of Commerce raised their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. Finally, National Bank Financial set a $95.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.54.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $65.73 on Friday. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 32.87 and a beta of 0.64. The firm’s 50-day moving average is $71.68 and its two-hundred day moving average is $72.41. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business had revenue of $166.96 million during the quarter, compared to analyst estimates of $193.57 million. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.