Bessemer Group Inc. Sells 185,693 Shares of The Descartes Systems Group Inc. $DSGX

Bessemer Group Inc. trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 93.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,803 shares of the technology company’s stock after selling 185,693 shares during the period. Bessemer Group Inc.’s holdings in The Descartes Systems Group were worth $914,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. AXA S.A. raised its stake in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after acquiring an additional 130 shares in the last quarter. Reynders McVeigh Capital Management LLC lifted its position in The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after acquiring an additional 140 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in The Descartes Systems Group by 4.1% in the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after acquiring an additional 143 shares in the last quarter. GAMMA Investing LLC boosted its stake in The Descartes Systems Group by 18.7% in the fourth quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after acquiring an additional 165 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in The Descartes Systems Group by 19.2% in the fourth quarter. Federated Hermes Inc. now owns 1,098 shares of the technology company’s stock worth $96,000 after purchasing an additional 177 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $65.73 on Friday. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 32.87 and a beta of 0.64. The stock’s fifty day moving average price is $71.68 and its 200 day moving average price is $72.41. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on DSGX shares. Loop Capital reiterated a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday. Weiss Ratings raised The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Canadian Imperial Bank of Commerce boosted their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus target price of $102.54.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.