Morgan Stanley boosted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 122.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633,028 shares of the technology company’s stock after buying an additional 348,754 shares during the period. Morgan Stanley owned approximately 0.84% of The Descartes Systems Group worth $14,496,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in The Descartes Systems Group by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 67,210 shares of the technology company’s stock worth $1,539,000 after buying an additional 955 shares during the period. US Bancorp DE raised its position in The Descartes Systems Group by 89.6% in the first quarter. US Bancorp DE now owns 4,825 shares of the technology company’s stock worth $110,000 after buying an additional 2,280 shares during the period. American Century Companies Inc. raised its position in The Descartes Systems Group by 6.4% in the first quarter. American Century Companies Inc. now owns 455,649 shares of the technology company’s stock worth $10,440,000 after buying an additional 27,590 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of The Descartes Systems Group by 1.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,058,438 shares of the technology company’s stock valued at $47,154,000 after buying an additional 20,332 shares in the last quarter. Finally, BB&T Corp acquired a new stake in shares of The Descartes Systems Group during the first quarter valued at approximately $254,000. 77.46% of the stock is owned by hedge funds and other institutional investors.
Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) traded up 0.57% on Friday, hitting $26.35. The company’s stock had a trading volume of 76,457 shares. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 82.34 and a beta of 0.58. The stock has a 50-day moving average price of $24.65 and a 200 day moving average price of $23.31. The Descartes Systems Group Inc. has a one year low of $19.50 and a one year high of $26.40.
The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, May 31st. The technology company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The business had revenue of $54.51 million during the quarter, compared to analysts’ expectations of $54.09 million. The Descartes Systems Group had a net margin of 11.80% and a return on equity of 5.78%. Equities research analysts predict that The Descartes Systems Group Inc. will post $0.42 EPS for the current year.
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DSGX has been the topic of a number of research reports. Zacks Investment Research upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Thursday, June 8th. TD Securities reissued a “buy” rating and set a $29.00 price target (up from $25.00) on shares of The Descartes Systems Group in a report on Wednesday, May 31st. Canaccord Genuity reissued a “buy” rating and set a $26.00 price target on shares of The Descartes Systems Group in a report on Thursday, May 25th. Morgan Stanley reissued an “equal weight” rating and set a $27.00 price target (up from $25.00) on shares of The Descartes Systems Group in a report on Thursday, June 1st. Finally, ValuEngine raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.44.
The Descartes Systems Group Company Profile
Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. The Company’s network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.
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