Legal & General Group Plc Makes New $24.20 Million Investment in The Descartes Systems Group Inc. $DSGX

Legal & General Group Plc purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 349,533 shares of the technology company’s stock, valued at approximately $24,201,000.

A number of other hedge funds also recently modified their holdings of the business. Clearbridge Investments LLC lifted its holdings in The Descartes Systems Group by 25.2% during the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock worth $35,402,000 after buying an additional 81,354 shares during the period. Norges Bank acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $100,405,000. Bank of America Corp DE raised its position in shares of The Descartes Systems Group by 62.0% during the first quarter. Bank of America Corp DE now owns 733,483 shares of the technology company’s stock worth $52,488,000 after acquiring an additional 280,713 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of The Descartes Systems Group during the first quarter worth about $8,671,000. Finally, Vanguard Group Inc. lifted its stake in shares of The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after acquiring an additional 69,260 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the topic of several analyst reports. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce boosted their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 4th. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Raymond James Financial dropped their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Finally, Loop Capital reaffirmed a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Trading Up 1.5%

DSGX opened at $81.83 on Friday. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $109.00. The company has a market cap of $7.01 billion, a P/E ratio of 40.91 and a beta of 0.62. The company has a fifty day moving average price of $74.02 and a two-hundred day moving average price of $71.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. On average, research analysts forecast that The Descartes Systems Group Inc. will post 2.34 EPS for the current fiscal year.

The Descartes Systems Group Company Profile

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.