The Descartes Systems Group Inc. $DSGX Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC raised its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,574,468 shares of the technology company’s stock after acquiring an additional 100,937 shares during the period. Janus Henderson Group PLC’s holdings in The Descartes Systems Group were worth $184,127,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Clearbridge Investments LLC increased its position in shares of The Descartes Systems Group by 25.2% during the fourth quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock valued at $35,402,000 after acquiring an additional 81,354 shares in the last quarter. Norges Bank bought a new position in The Descartes Systems Group in the 4th quarter valued at approximately $100,405,000. Peregrine Capital Management LLC purchased a new stake in The Descartes Systems Group during the 1st quarter valued at $8,671,000. Vanguard Group Inc. boosted its stake in The Descartes Systems Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after purchasing an additional 69,260 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in The Descartes Systems Group by 809.0% during the 4th quarter. BNP Paribas Financial Markets now owns 236,003 shares of the technology company’s stock valued at $20,688,000 after purchasing an additional 210,041 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DSGX. Weiss Ratings upgraded The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. National Bank Financial set a $95.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, July 20th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $100.00 to $90.00 in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce boosted their target price on 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. Finally, Loop Capital restated a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Stock Down 4.4%

Shares of DSGX opened at $74.55 on Friday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 37.27 and a beta of 0.64. The business has a 50-day simple moving average of $71.99 and a two-hundred day simple moving average of $71.98.

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

The Descartes Systems Group Company 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.