Van Hulzen Asset Management LLC Takes Position in The Descartes Systems Group Inc. $DSGX

Van Hulzen Asset Management LLC purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, Holdings Channel reports. The fund purchased 9,665 shares of the technology company’s stock, valued at approximately $669,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in shares of The Descartes Systems Group by 35.1% during the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after buying an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of The Descartes Systems Group by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after buying an additional 660 shares in the last quarter. Amundi lifted its stake in shares of The Descartes Systems Group by 74.5% in the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after acquiring an additional 35,132 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of The Descartes Systems Group by 25.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after acquiring an additional 254 shares in the last quarter. Finally, AXA S.A. boosted its holdings in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DSGX shares. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, July 20th. Loop Capital restated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Raymond James Financial lowered their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $78.47 on Tuesday. The stock has a market capitalization of $6.72 billion, a PE ratio of 39.23 and a beta of 0.62. The business’s 50 day simple moving average is $73.19 and its 200 day simple moving average is $71.46. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00.

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

About The Descartes Systems Group

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.