Sei Investments Co. Increases Stock Position in The Descartes Systems Group Inc. $DSGX

Sei Investments Co. boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,893 shares of the technology company’s stock after buying an additional 21,079 shares during the quarter. Sei Investments Co. owned approximately 0.18% of The Descartes Systems Group worth $10,869,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at about $27,000. Danske Bank A S acquired a new position in The Descartes Systems Group in the 3rd quarter worth about $34,000. Measured Wealth Private Client Group LLC acquired a new position in The Descartes Systems Group in the 3rd quarter worth about $40,000. Caitong International Asset Management Co. Ltd boosted its position in The Descartes Systems Group by 267.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after purchasing an additional 401 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in The Descartes Systems Group by 124.7% in the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock valued at $54,000 after purchasing an additional 419 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $75.16 on Friday. The company’s 50-day moving average is $72.06 and its two-hundred day moving average is $72.00. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $109.00. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 37.58 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DSGX. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, July 20th. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $100.00 to $90.00 in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce boosted their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Finally, Raymond James Financial lowered their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.54.

About The Descartes Systems Group

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.