Bessemer Group Inc. Grows Stock Position in The Descartes Systems Group Inc. $DSGX

Bessemer Group Inc. grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.2% during the third quarter, Holdings Channel reports. The institutional investor owned 285,104 shares of the technology company’s stock after purchasing an additional 39,818 shares during the quarter. Bessemer Group Inc.’s holdings in The Descartes Systems Group were worth $26,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. bought a new stake in The Descartes Systems Group in the 3rd quarter valued at about $28,000. SBI Securities Co. Ltd. raised its position in shares of The Descartes Systems Group by 77.0% in the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after purchasing an additional 248 shares during the period. Versant Capital Management Inc lifted its stake in shares of The Descartes Systems Group by 24.8% during the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after buying an additional 131 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $68,000. Finally, GAMMA Investing LLC boosted its holdings in The Descartes Systems Group by 42.1% in the 3rd quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after buying an additional 262 shares during the period. Institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DSGX shares. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a report on Thursday, December 4th. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. BMO Capital Markets decreased their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Finally, Scotiabank lowered their price target on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Buy” and a consensus price target of $114.20.

The Descartes Systems Group Stock Down 1.6%

The Descartes Systems Group stock opened at $66.78 on Friday. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 37.73 and a beta of 0.75. The business has a 50-day simple moving average of $84.96 and a 200 day simple moving average of $92.25. The Descartes Systems Group Inc. has a 52 week low of $64.27 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The firm had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same quarter last year, the company posted $0.42 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Profile

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.