The Descartes Systems Group Inc. $DSGX Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 640.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,363,426 shares of the technology company’s stock after purchasing an additional 1,179,345 shares during the period. Wellington Management Group LLP’s holdings in The Descartes Systems Group were worth $94,402,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in The Descartes Systems Group during the third quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group in the second quarter worth approximately $33,000. Danske Bank A S bought a new position in shares of The Descartes Systems Group in the third quarter valued at $34,000. Keating Financial Advisory Services Inc. bought a new position in shares of The Descartes Systems Group in the second quarter valued at $38,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, July 20th. Loop Capital reaffirmed a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce increased their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Raymond James Financial decreased their target price 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. Finally, Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. One equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.54.

The Descartes Systems Group Trading Down 0.3%

Shares of NASDAQ DSGX opened at $80.43 on Wednesday. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00. The firm has a market capitalization of $6.89 billion, a PE ratio of 40.22 and a beta of 0.62. The business has a 50-day moving average price of $74.55 and a two-hundred day moving average price of $71.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Research analysts anticipate that The Descartes Systems Group Inc. will post 2.34 EPS 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.