NBW Capital LLC Purchases 2,392 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

NBW Capital LLC lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,509 shares of the technology company’s stock after purchasing an additional 2,392 shares during the quarter. The Descartes Systems Group comprises 1.3% of NBW Capital LLC’s investment portfolio, making the stock its 29th biggest holding. NBW Capital LLC owned approximately 0.08% of The Descartes Systems Group worth $6,545,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in The Descartes Systems Group in the fourth quarter worth $27,000. Central Pacific Bank Trust Division bought a new stake in The Descartes Systems Group in the first quarter worth $28,000. Accent Capital Management LLC bought a new stake in The Descartes Systems Group in the fourth quarter worth $32,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after acquiring an additional 429 shares in the last quarter. Finally, Park Place Capital Corp boosted its holdings in The Descartes Systems Group by 48.5% in the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after acquiring an additional 219 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock traded down $3.81 during mid-day trading on Friday, reaching $95.72. 195,767 shares of the stock traded hands, compared to its average volume of 131,912. The stock has a market capitalization of $8.17 billion, a PE ratio of 68.37 and a beta of 0.98. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $104.71. The business’s 50-day moving average is $97.10 and its 200-day moving average is $93.23.

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

Wall Street Analyst Weigh In

DSGX has been the topic of several analyst reports. TD Securities boosted their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Scotiabank upped their price target 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. CIBC upped their price target on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. BMO Capital Markets upped their price target on The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada upped their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.00.

The Descartes Systems Group Company 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.