Shell Asset Management Co. Acquires 8,280 Shares of The Descartes Systems Group Inc. $DSGX

Shell Asset Management Co. grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 85.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,994 shares of the technology company’s stock after acquiring an additional 8,280 shares during the period. Shell Asset Management Co.’s holdings in The Descartes Systems Group were worth $1,824,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DSGX. GAMMA Investing LLC raised its stake in shares of The Descartes Systems Group by 9,983.0% during the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company’s stock valued at $5,134,000 after acquiring an additional 50,414 shares during the last quarter. NBC Securities Inc. bought a new position in shares of The Descartes Systems Group during the first quarter valued at $25,000. Vista Finance LLC raised its stake in The Descartes Systems Group by 7.0% during the first quarter. Vista Finance LLC now owns 3,119 shares of the technology company’s stock worth $314,000 after buying an additional 203 shares during the last quarter. Louisbourg Investments Inc. raised its stake in The Descartes Systems Group by 260.2% during the first quarter. Louisbourg Investments Inc. now owns 18,335 shares of the technology company’s stock worth $1,848,000 after buying an additional 13,245 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in The Descartes Systems Group by 9.8% during the first quarter. Avior Wealth Management LLC now owns 4,320 shares of the technology company’s stock worth $436,000 after buying an additional 384 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen reissued a “buy” rating and set a $121.00 target price on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of The Descartes Systems Group in a research note on Wednesday. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Wall Street Zen raised shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, TD Securities started coverage on shares of The Descartes Systems Group in a research note on Friday, October 3rd. They set a “buy” rating and a $121.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $97.34 on Thursday. The stock has a market capitalization of $8.37 billion, a P/E ratio of 57.60 and a beta of 0.77. The company has a 50-day moving average price of $100.36 and a 200-day moving average price of $103.28. The Descartes Systems Group Inc. has a 1 year low of $91.00 and a 1 year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Profile

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.