Silvercrest Asset Management Group LLC Purchases 6,070 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Silvercrest Asset Management Group LLC increased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,129 shares of the technology company’s stock after acquiring an additional 6,070 shares during the period. Silvercrest Asset Management Group LLC owned about 0.11% of The Descartes Systems Group worth $8,890,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in The Descartes Systems Group during the fourth quarter valued at $27,000. Central Pacific Bank Trust Division purchased a new position in shares of The Descartes Systems Group in the first quarter valued at about $28,000. Accent Capital Management LLC purchased a new position in shares of The Descartes Systems Group in the fourth quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after acquiring an additional 429 shares in the last quarter. Finally, Park Place Capital Corp lifted its position 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 acquiring an additional 219 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

DSGX has been the topic of several research analyst reports. Stephens boosted their price objective on The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Barclays boosted their price objective on The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Royal Bank of Canada boosted their price objective on The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Redburn Atlantic assumed coverage on The Descartes Systems Group in a research report on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Raymond James boosted their target price on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $102.00.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $100.65 on Wednesday. The business’s 50 day moving average is $97.09 and its two-hundred day moving average is $92.93. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $104.71. The stock has a market capitalization of $8.59 billion, a P/E ratio of 71.89 and a beta of 0.98.

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

The Descartes Systems Group Company 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.