Federated Hermes Inc. Buys 425 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Federated Hermes Inc. increased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 48.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,298 shares of the technology company’s stock after buying an additional 425 shares during the period. Federated Hermes Inc.’s holdings in The Descartes Systems Group were worth $109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mackenzie Financial Corp increased its stake in shares of The Descartes Systems Group by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after acquiring an additional 154,110 shares in the last quarter. Fiera Capital Corp grew its holdings in The Descartes Systems Group by 5.6% in the third quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock worth $163,085,000 after purchasing an additional 117,611 shares during the period. Toronto Dominion Bank increased its stake in shares of The Descartes Systems Group by 37.7% during the third quarter. Toronto Dominion Bank now owns 109,676 shares of the technology company’s stock valued at $8,048,000 after purchasing an additional 30,010 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of The Descartes Systems Group by 3.1% during the third quarter. Legal & General Group Plc now owns 413,741 shares of the technology company’s stock valued at $30,506,000 after purchasing an additional 12,312 shares during the last quarter. Finally, Dynamo Internacional Gestao DE Recursos LTDA. bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $2,693,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $97.11 on Tuesday. The Descartes Systems Group Inc. has a one year low of $69.59 and a one year high of $97.29. The company’s fifty day moving average price is $91.42 and its 200-day moving average price is $85.54. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 72.47 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $146.62 million. During the same period last year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DSGX has been the subject of a number of recent research reports. Raymond James lifted their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Barclays increased their price objective on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 target price on shares of The Descartes Systems Group in a research note on Thursday, April 11th. BMO Capital Markets raised their price target on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $98.44.

About The Descartes Systems Group

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.