Menu Close

Northwestern Mutual Wealth Management Co. Acquires 1,825 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Northwestern Mutual Wealth Management Co. grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) by 176.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,860 shares of the technology company’s stock after purchasing an additional 1,825 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in The Descartes Systems Group were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of Nova Scotia raised its holdings in shares of The Descartes Systems Group by 5.9% during the 1st quarter. Bank of Nova Scotia now owns 267,235 shares of the technology company’s stock valued at $19,564,000 after purchasing an additional 14,940 shares in the last quarter. GW&K Investment Management LLC raised its holdings in The Descartes Systems Group by 4.7% in the 1st quarter. GW&K Investment Management LLC now owns 685,017 shares of the technology company’s stock worth $50,184,000 after acquiring an additional 30,559 shares during the period. Principal Financial Group Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth $41,939,000. Bank of Nova Scotia Trust Co. raised its holdings in The Descartes Systems Group by 24.7% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 30,398 shares of the technology company’s stock worth $2,227,000 after acquiring an additional 6,027 shares during the period. Finally, Swiss National Bank raised its holdings in The Descartes Systems Group by 7.8% in the 1st quarter. Swiss National Bank now owns 201,400 shares of the technology company’s stock worth $14,730,000 after acquiring an additional 14,500 shares during the period. Institutional investors own 72.41% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $70.48 on Thursday. The firm’s 50-day simple moving average is $66.71 and its 200-day simple moving average is $66.70. The Descartes Systems Group Inc. has a twelve month low of $56.19 and a twelve month high of $91.39. The firm has a market cap of $5.98 billion, a P/E ratio of 66.49 and a beta of 1.04.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last issued its earnings results on Wednesday, June 1st. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The Descartes Systems Group had a net margin of 20.57% and a return on equity of 9.17%. The business had revenue of $116.40 million for the quarter, compared to analyst estimates of $113.97 million. During the same period in the previous year, the business earned $0.21 EPS. The firm’s revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on DSGX. Stephens dropped their target price on shares of The Descartes Systems Group to $80.00 in a report on Friday, June 3rd. Royal Bank of Canada dropped their target price on shares of The Descartes Systems Group from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. TD Securities dropped their target price on shares of The Descartes Systems Group from $95.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd. Barclays raised their price target on shares of The Descartes Systems Group from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 16th. Finally, Raymond James decreased their price target on shares of The Descartes Systems Group from $83.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday, June 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus target price of $77.63.

The Descartes Systems Group Company Profile

(Get Rating)

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

Featured Stories

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.