Swiss National Bank Has $20.70 Million Stake in The Descartes Systems Group Inc. $DSGX

Swiss National Bank grew its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.0% during the first quarter, HoldingsChannel reports. The firm owned 289,424 shares of the technology company’s stock after buying an additional 61,600 shares during the period. Swiss National Bank’s holdings in The Descartes Systems Group were worth $20,700,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after buying an additional 98,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in The Descartes Systems Group by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after acquiring an additional 660 shares during the period. Amundi raised its position in shares of The Descartes Systems Group by 74.5% in the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock worth $8,360,000 after acquiring an additional 35,132 shares in the last quarter. Federated Hermes Inc. raised its position in shares of The Descartes Systems Group by 25.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock worth $127,000 after acquiring an additional 254 shares in the last quarter. Finally, AXA S.A. lifted its stake in shares of The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $68.18 on Friday. The business has a 50-day simple moving average of $71.69 and a 200 day simple moving average of $72.38. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 34.09 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $193.57 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

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