Swiss National Bank Has $20.70 Million Stake in The Descartes Systems Group Inc. $DSGX

Swiss National Bank boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289,424 shares of the technology company’s stock after acquiring an additional 61,600 shares during the quarter. Swiss National Bank owned 0.34% of The Descartes Systems Group worth $20,700,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Clearbridge Investments LLC increased its holdings in shares of The Descartes Systems Group by 25.2% during 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 in the last quarter. Norges Bank acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $100,405,000. Vanguard Group Inc. boosted its holdings in shares of The Descartes Systems Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after acquiring an additional 69,260 shares in the last quarter. BNP Paribas Financial Markets grew its position in The Descartes Systems Group by 809.0% during the 4th quarter. BNP Paribas Financial Markets now owns 236,003 shares of the technology company’s stock worth $20,688,000 after acquiring an additional 210,041 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in The Descartes Systems Group during the 1st quarter worth $8,671,000. 77.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on DSGX. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their target price for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Loop Capital reissued a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, June 4th. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, July 20th. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, Raymond James Financial dropped 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 report on Thursday, June 4th. One investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group Stock Up 3.7%

NASDAQ DSGX opened at $68.18 on Friday. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 34.09 and a beta of 0.64. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00. The stock has a fifty day simple moving average of $71.69 and a 200 day simple moving average of $72.38.

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

The Descartes Systems Group 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.