SEB Asset Management AB Acquires Shares of 319,404 The Descartes Systems Group Inc. $DSGX

SEB Asset Management AB purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 319,404 shares of the technology company’s stock, valued at approximately $22,805,000.

A number of other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after buying an additional 98,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Descartes Systems Group by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after buying an additional 660 shares during the period. Amundi boosted its position in The Descartes Systems Group by 74.5% during the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock worth $8,360,000 after acquiring an additional 35,132 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of The Descartes Systems Group by 25.6% in the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after purchasing an additional 254 shares during the last quarter. Finally, AXA S.A. lifted its position in shares of The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DSGX. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. Raymond James Financial cut their price target on 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 stock an “outperform” rating in a research report on Tuesday, July 14th. Rothschild & Co Redburn upgraded 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. Finally, Loop Capital reissued a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $102.54.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $74.16 on Monday. The company’s 50 day moving average price is $71.51 and its two-hundred day moving average price is $72.91. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The firm has a market cap of $6.35 billion, a PE ratio of 37.08 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. On average, research analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

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.