National Bank of Canada FI Increases Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

National Bank of Canada FI increased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,191 shares of the technology company’s stock after acquiring an additional 17,992 shares during the period. National Bank of Canada FI’s holdings in The Descartes Systems Group were worth $16,356,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DSGX. Brown Brothers Harriman & Co. acquired a new stake in The Descartes Systems Group in the fourth quarter valued at $27,000. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the 1st quarter valued at about $28,000. Accent Capital Management LLC purchased a new position in The Descartes Systems Group during the 4th quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. raised its position in The Descartes Systems Group by 703.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after acquiring an additional 429 shares during the last quarter. Finally, Park Place Capital Corp lifted its holdings in shares of The Descartes Systems Group by 48.5% in the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DSGX has been the subject of a number of recent research reports. CIBC raised their price objective on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Stephens boosted their price target on The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Raymond James upped their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday, May 31st. Royal Bank of Canada lifted their price objective on The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Finally, Scotiabank upped their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

The Descartes Systems Group Trading Down 2.3 %

Shares of NASDAQ DSGX traded down $2.28 on Wednesday, reaching $98.64. 70,865 shares of the company traded hands, compared to its average volume of 164,331. The stock has a market capitalization of $8.42 billion, a PE ratio of 70.46 and a beta of 0.98. The Descartes Systems Group Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $104.71. The company has a 50 day moving average of $96.95 and a 200 day moving average of $92.43.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The company had revenue of $151.30 million for the quarter, compared to analyst estimates of $151.80 million. The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current year.

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.