Oppenheimer Asset Management Inc. lessened its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,784 shares of the technology company’s stock after selling 601 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Descartes Systems Group were worth $821,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in DSGX. Captrust Financial Advisors boosted its holdings in shares of The Descartes Systems Group by 270.8% in the 2nd quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock valued at $28,000 after purchasing an additional 325 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of The Descartes Systems Group in the 3rd quarter valued at $30,000. Barclays PLC boosted its holdings in shares of The Descartes Systems Group by 6,573.7% in the 3rd quarter. Barclays PLC now owns 1,268 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,249 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 58.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,351 shares of the technology company’s stock valued at $86,000 after purchasing an additional 501 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC acquired a new position in shares of The Descartes Systems Group in the 3rd quarter valued at $128,000. Institutional investors and hedge funds own 80.35% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of The Descartes Systems Group in a report on Thursday, March 16th. They set a “buy” rating on the stock. TD Securities lifted their target price on shares of The Descartes Systems Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, March 3rd. Stephens lifted their target price on shares of The Descartes Systems Group from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. Royal Bank of Canada lifted their target price on shares of The Descartes Systems Group from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, March 2nd. Finally, Raymond James lifted their target price on shares of The Descartes Systems Group from $71.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.78.
The Descartes Systems Group Price Performance
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The Descartes Systems Group had a net margin of 21.05% and a return on equity of 9.74%. The firm had revenue of $125.10 million for the quarter, compared to the consensus estimate of $123.54 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts forecast that The Descartes Systems Group Inc. will post 1.44 earnings per share for the current fiscal year.
About The Descartes Systems Group
The Descartes Systems Group, Inc engages in the provision of on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. It uses modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community.
Further Reading
- Get a free copy of the StockNews.com research report on The Descartes Systems Group (DSGX)
- It’s Time To Check Into Booking.Com
- Shopify Delivers Growth And Efficiency; Shares Surge
- Advanced Micro Devices Bullish Reversal Is Still In Play
- Broadcom Shares Trade In Tight Range Ahead Of Q2 Earnings Report
- An Opportunity To Buy Starbucks Is Knocking On The Door
Receive News & Ratings for The Descartes Systems Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Descartes Systems Group and related companies with MarketBeat.com's FREE daily email newsletter.
