Whittier Trust Co. Purchases 794 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Whittier Trust Co. increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,515 shares of the technology company’s stock after buying an additional 794 shares during the period. Whittier Trust Co.’s holdings in The Descartes Systems Group were worth $825,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp increased its stake in The Descartes Systems Group by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,377 shares of the technology company’s stock valued at $218,000 after purchasing an additional 123 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in The Descartes Systems Group by 4.3% in the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after purchasing an additional 158 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its stake in The Descartes Systems Group by 0.3% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock valued at $4,332,000 after purchasing an additional 173 shares in the last quarter. Prudential PLC increased its stake in The Descartes Systems Group by 1.8% in the fourth quarter. Prudential PLC now owns 10,778 shares of the technology company’s stock valued at $906,000 after purchasing an additional 193 shares in the last quarter. Finally, Park Place Capital Corp increased its stake in The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 1.5 %

The Descartes Systems Group stock traded up $1.54 during midday trading on Thursday, hitting $101.05. 27,873 shares of the stock were exchanged, compared to its average volume of 156,739. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of 72.16 and a beta of 0.98. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $104.71. The business’s 50-day moving average price is $98.58 and its 200-day moving average price is $94.52.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The company had revenue of $151.30 million during the quarter, compared to analysts’ expectations of $151.80 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stephens lifted their price target on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Scotiabank boosted their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 31st. Barclays boosted their target price on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. TD Securities boosted their target price on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Redburn Atlantic started coverage on shares of The Descartes Systems Group in a research report on Tuesday, May 14th. They set a “neutral” rating and a $90.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average price target of $102.00.

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.