Whittier Trust Co. Boosts Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Whittier Trust Co. increased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 52.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,006 shares of the technology company’s stock after purchasing an additional 4,790 shares during the period. Whittier Trust Co.’s holdings in The Descartes Systems Group were worth $1,591,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DSGX. Franklin Resources Inc. lifted its holdings in shares of The Descartes Systems Group by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after acquiring an additional 40,807 shares during the last quarter. National Bank of Canada FI raised its position in The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after purchasing an additional 556,408 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of The Descartes Systems Group by 12.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after purchasing an additional 72,501 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of The Descartes Systems Group by 18.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after purchasing an additional 102,208 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in shares of The Descartes Systems Group by 3.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company’s stock valued at $60,248,000 after purchasing an additional 20,205 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $101.15 on Friday. The company has a 50 day moving average price of $111.47 and a 200-day moving average price of $110.03. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The stock has a market capitalization of $8.66 billion, a PE ratio of 63.62 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. TD Securities raised their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada cut their target price on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group 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.