132,148 Shares in The Descartes Systems Group Inc. (NASDAQ:DSGX) Purchased by Zeno Equity Partners LLP

Zeno Equity Partners LLP acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 132,148 shares of the technology company’s stock, valued at approximately $11,108,000. The Descartes Systems Group accounts for approximately 2.7% of Zeno Equity Partners LLP’s portfolio, making the stock its 10th largest holding. Zeno Equity Partners LLP owned approximately 0.16% of The Descartes Systems Group at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DSGX. Brown Brothers Harriman & Co. acquired a new position in The Descartes Systems Group during the 4th quarter valued at about $27,000. Operose Advisors LLC acquired a new position in The Descartes Systems Group during the 3rd quarter valued at about $35,000. Federated Hermes Inc. acquired a new position in The Descartes Systems Group during the 3rd quarter valued at about $64,000. Signaturefd LLC increased its stake in The Descartes Systems Group by 45.6% during the 4th quarter. Signaturefd LLC now owns 1,015 shares of the technology company’s stock valued at $85,000 after buying an additional 318 shares during the period. Finally, SG Americas Securities LLC acquired a new position in The Descartes Systems Group during the 4th quarter valued at about $209,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BMO Capital Markets raised their target price on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Thursday, May 30th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. CIBC raised their price objective on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Stephens raised their price objective on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, William Blair restated an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

The Descartes Systems Group Trading Down 0.8 %

Shares of DSGX traded down $0.74 during midday trading on Friday, hitting $94.19. The stock had a trading volume of 161,237 shares, compared to its average volume of 172,414. The Descartes Systems Group Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $100.69. The business has a 50-day simple moving average of $94.30 and a two-hundred day simple moving average of $89.44. The firm has a market cap of $8.04 billion, a P/E ratio of 67.28 and a beta of 0.93.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The company had revenue of $151.30 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. On average, analysts expect that The Descartes Systems Group Inc. will post 1.59 earnings per share for the current fiscal year.

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.