The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Purchased by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 85,062 shares of the technology company’s stock after acquiring an additional 915 shares during the quarter. The Descartes Systems Group comprises approximately 2.0% of MinichMacGregor Wealth Management LLC’s holdings, making the stock its 16th largest position. MinichMacGregor Wealth Management LLC owned approximately 0.10% of The Descartes Systems Group worth $9,663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Jane Street Group LLC boosted its stake in The Descartes Systems Group by 20.4% during the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock valued at $1,368,000 after purchasing an additional 2,250 shares in the last quarter. Plato Investment Management Ltd acquired a new position in The Descartes Systems Group during the third quarter worth about $2,308,000. Massachusetts Financial Services Co. MA raised its position in The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after acquiring an additional 9,768 shares in the last quarter. Barclays PLC lifted its holdings in The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after acquiring an additional 270 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of The Descartes Systems Group by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock valued at $50,277,000 after purchasing an additional 46,523 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

DSGX stock opened at $120.41 on Thursday. The firm has a 50 day simple moving average of $115.69 and a 200 day simple moving average of $106.75. The Descartes Systems Group Inc. has a 52 week low of $84.12 and a 52 week high of $122.88. The stock has a market cap of $10.30 billion, a P/E ratio of 75.73 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same quarter last year, the business posted $0.31 EPS. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on DSGX. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $88.00 to $125.00 in a report on Friday, November 15th. Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. BMO Capital Markets boosted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Scotiabank upped their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $117.92.

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.