Whittier Trust Co. of Nevada Inc. Raises Stock Holdings in The Descartes Systems Group Inc. $DSGX

Whittier Trust Co. of Nevada Inc. grew its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,368 shares of the technology company’s stock after buying an additional 2,976 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in The Descartes Systems Group were worth $2,273,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of The Descartes Systems Group by 23.2% in the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock worth $63,000 after acquiring an additional 117 shares during the period. Wealth Alliance LLC boosted its stake in shares of The Descartes Systems Group by 5.4% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company’s stock worth $232,000 after acquiring an additional 118 shares during the period. Ritholtz Wealth Management boosted its stake in shares of The Descartes Systems Group by 1.9% in the second quarter. Ritholtz Wealth Management now owns 6,540 shares of the technology company’s stock worth $665,000 after acquiring an additional 125 shares during the period. Vista Finance LLC boosted its stake in shares of The Descartes Systems Group by 4.0% in the second quarter. Vista Finance LLC now owns 3,245 shares of the technology company’s stock worth $330,000 after acquiring an additional 126 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of The Descartes Systems Group by 35.1% in the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock worth $59,000 after acquiring an additional 152 shares during the period. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

DSGX has been the subject of a number of recent analyst reports. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Descartes Systems Group in a research note on Wednesday, October 8th. TD Securities began coverage on The Descartes Systems Group in a research note on Friday, October 3rd. They issued a “buy” rating and a $121.00 price objective for the company. Finally, Morgan Stanley began coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $121.80.

The Descartes Systems Group Trading Up 1.5%

Shares of The Descartes Systems Group stock opened at $97.36 on Wednesday. The stock has a 50 day moving average of $99.15 and a 200 day moving average of $102.97. The Descartes Systems Group Inc. has a 12 month low of $91.00 and a 12 month high of $124.31. The firm has a market cap of $8.37 billion, a PE ratio of 57.61 and a beta of 0.77.

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

The Descartes Systems Group Company 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.