The Descartes Systems Group Inc. $DSGX Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 151,893 shares of the technology company’s stock after acquiring an additional 21,079 shares during the period. Sei Investments Co.’s holdings in The Descartes Systems Group were worth $10,869,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new position in The Descartes Systems Group during the third quarter worth about $27,000. Danske Bank A S purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of The Descartes Systems Group by 267.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after acquiring an additional 401 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 124.7% in the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after acquiring an additional 419 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Raymond James Financial dropped 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. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report 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 research note on Thursday, June 4th. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. Finally, Canadian Imperial Bank of Commerce increased 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 report on Thursday, June 4th. One equities research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Stock Performance

DSGX stock opened at $75.16 on Friday. The company’s 50 day moving average price is $72.06 and its 200 day moving average price is $72.00. 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 Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued 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 Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS 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.