Northwestern Mutual Wealth Management Co. Has $15.09 Million Stock Holdings in The Descartes Systems Group Inc. $DSGX

Northwestern Mutual Wealth Management Co. raised its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18,207.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 172,091 shares of the technology company’s stock after purchasing an additional 171,151 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in The Descartes Systems Group were worth $15,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $27,000. Danske Bank A S acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $34,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter worth $40,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of The Descartes Systems Group by 267.3% during the 3rd 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, GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 18.7% during the 4th quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock worth $92,000 after purchasing an additional 165 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DSGX. Canaccord Genuity Group reduced their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Barclays reduced their target price on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. BMO Capital Markets reduced their target price on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. Zacks Research lowered The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.45.

The Descartes Systems Group Stock Up 2.8%

NASDAQ:DSGX opened at $72.51 on Thursday. The stock’s 50-day simple moving average is $70.99 and its 200 day simple moving average is $77.10. The firm has a market capitalization of $6.24 billion, a PE ratio of 38.98 and a beta of 0.65. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $192.37 million for the quarter, compared to analyst estimates of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The Descartes Systems Group’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, analysts anticipate that The Descartes Systems Group Inc. will post 2.62 EPS for the current fiscal 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.