Whittier Trust Co. Buys 2,146 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Whittier Trust Co. raised its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 38.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,721 shares of the technology company’s stock after purchasing an additional 2,146 shares during the period. Whittier Trust Co.’s holdings in The Descartes Systems Group were worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in The Descartes Systems Group in the fourth quarter worth $92,571,000. Clearbridge Investments LLC purchased a new stake in shares of The Descartes Systems Group during the 4th quarter valued at about $36,767,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of The Descartes Systems Group by 497.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock valued at $36,001,000 after acquiring an additional 356,560 shares during the last quarter. Riverbridge Partners LLC grew its position in The Descartes Systems Group by 36.6% in the first quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock worth $89,389,000 after acquiring an additional 261,688 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in The Descartes Systems Group by 3,799.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 260,002 shares of the technology company’s stock worth $21,856,000 after acquiring an additional 253,334 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX traded up $0.35 during trading hours on Tuesday, hitting $100.27. 135,853 shares of the company were exchanged, compared to its average volume of 166,060. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 71.29 and a beta of 0.98. The company’s 50 day moving average price is $95.98 and its 200-day moving average price is $91.01. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $100.89.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The business had revenue of $151.30 million during the quarter, compared to analyst estimates of $151.80 million. During the same period in the previous year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on DSGX. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. William Blair restated an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Royal Bank of Canada increased their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Scotiabank boosted their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. Finally, Raymond James boosted their target price on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $102.00.

The Descartes Systems Group 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.