Maryland State Retirement & Pension System Has $5.21 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Maryland State Retirement & Pension System increased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,628 shares of the technology company’s stock after buying an additional 886 shares during the period. Maryland State Retirement & Pension System’s holdings in The Descartes Systems Group were worth $5,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in The Descartes Systems Group during the fourth quarter valued at approximately $27,000. Accent Capital Management LLC acquired a new position in The Descartes Systems Group during the fourth quarter valued at approximately $32,000. Park Place Capital Corp raised its position in The Descartes Systems Group by 48.5% during the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares in the last quarter. Federated Hermes Inc. acquired a new position in The Descartes Systems Group during the third quarter valued at approximately $64,000. Finally, Signaturefd LLC raised its position in The Descartes Systems Group by 45.6% during the fourth quarter. Signaturefd LLC now owns 1,015 shares of the technology company’s stock valued at $85,000 after purchasing an additional 318 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DSGX shares. TD Securities boosted their price objective on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Barclays boosted their target price on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research note on Friday, May 17th. William Blair reaffirmed an “outperform” rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. Stephens boosted their target price on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Raymond James boosted their target price on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $102.00.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock traded down $0.18 during trading on Friday, hitting $98.83. The company’s stock had a trading volume of 7,061 shares, compared to its average volume of 165,925. The Descartes Systems Group Inc. has a 52 week low of $69.59 and a 52 week high of $100.69. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 70.72 and a beta of 0.98. The stock has a 50-day moving average price of $95.76 and a two-hundred day moving average price of $90.68.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The business had revenue of $151.30 million during the quarter, compared to the consensus estimate of $151.80 million. During the same period in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.7 EPS 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.