LPL Financial LLC Increases Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

LPL Financial LLC boosted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 81.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,815 shares of the technology company’s stock after buying an additional 4,412 shares during the quarter. LPL Financial LLC’s holdings in The Descartes Systems Group were worth $786,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DSGX. Captrust Financial Advisors boosted its stake in shares of The Descartes Systems Group by 270.8% in the second quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock valued at $28,000 after purchasing an additional 325 shares during the period. Fred Alger Management LLC purchased a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $30,000. FMR LLC boosted its stake in shares of The Descartes Systems Group by 36.6% in the first quarter. FMR LLC now owns 1,574 shares of the technology company’s stock valued at $127,000 after purchasing an additional 422 shares during the period. BNP Paribas Arbitrage SNC purchased a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $128,000. Finally, Fifth Third Bancorp boosted its stake in shares of The Descartes Systems Group by 14.4% in the second quarter. Fifth Third Bancorp now owns 2,254 shares of the technology company’s stock valued at $181,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 76.73% of the company’s stock.

Wall Street Analyst Weigh In

DSGX has been the subject of several recent research reports. Royal Bank of Canada raised their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. Stephens raised their price objective on shares of The Descartes Systems Group from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, September 7th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 4th. Finally, Scotiabank reaffirmed a “sector outperform” rating and issued a $86.00 target price on shares of The Descartes Systems Group in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.00.

The Descartes Systems Group Trading Down 0.1 %

DSGX stock opened at $80.98 on Tuesday. The Descartes Systems Group Inc. has a twelve month low of $64.23 and a twelve month high of $82.02. The company’s 50 day moving average is $73.96 and its two-hundred day moving average is $75.61. The stock has a market cap of $6.89 billion, a P/E ratio of 61.88 and a beta of 1.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The Descartes Systems Group had a return on equity of 10.22% and a net margin of 21.60%. The company had revenue of $143.39 million for the quarter, compared to analyst estimates of $139.95 million. During the same period in the previous year, the business posted $0.27 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that The Descartes Systems Group Inc. will post 1.33 earnings per share for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.