The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,143 shares of the technology company’s stock after purchasing an additional 492 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in The Descartes Systems Group were worth $432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Operose Advisors LLC purchased a new position in shares of The Descartes Systems Group during the third quarter worth about $35,000. Signaturefd LLC grew its stake in shares of The Descartes Systems Group by 26.7% in the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after purchasing an additional 147 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of The Descartes Systems Group during the third quarter worth approximately $64,000. SG Americas Securities LLC acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth $209,000. Finally, Intellectus Partners LLC purchased a new position in The Descartes Systems Group in the 4th quarter valued at $227,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on DSGX shares. Scotiabank lifted their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company a “sector outperform” rating in a report on Thursday, March 7th. TD Securities lifted their price objective on The Descartes Systems Group from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 target price on shares of The Descartes Systems Group in a research note on Thursday, April 11th. BMO Capital Markets lifted their price target on The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. Finally, Redburn Atlantic started coverage on The Descartes Systems Group in a research report on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.80.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $99.39 on Thursday. The firm’s 50-day moving average is $93.44 and its two-hundred day moving average is $87.62. The company has a market capitalization of $8.47 billion, a PE ratio of 74.17 and a beta of 0.91. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $100.37.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (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 firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. During the same quarter in the prior year, the company earned $0.34 EPS. The Descartes Systems Group’s revenue was up 18.5% on a year-over-year basis. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

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.