Prospera Financial Services Inc Takes $117,000 Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Prospera Financial Services Inc bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,600 shares of the technology company’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DSGX. Qube Research & Technologies Ltd increased its position in The Descartes Systems Group by 139.7% during the 4th quarter. Qube Research & Technologies Ltd now owns 13,602 shares of the technology company’s stock valued at $1,125,000 after purchasing an additional 7,928 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Descartes Systems Group by 42.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,248 shares of the technology company’s stock valued at $999,000 after purchasing an additional 3,645 shares during the period. Fifth Third Bancorp increased its position in The Descartes Systems Group by 15.3% during the 4th quarter. Fifth Third Bancorp now owns 2,249 shares of the technology company’s stock valued at $186,000 after purchasing an additional 298 shares during the period. NBW Capital LLC increased its position in The Descartes Systems Group by 5.3% during the 4th quarter. NBW Capital LLC now owns 69,575 shares of the technology company’s stock valued at $5,758,000 after purchasing an additional 3,508 shares during the period. Finally, Capital Asset Advisory Services LLC increased its position in The Descartes Systems Group by 17.8% during the 4th quarter. Capital Asset Advisory Services LLC now owns 13,850 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 2,092 shares during the period. Institutional investors and hedge funds own 72.41% of the company’s stock.

The Descartes Systems Group Stock Down 0.3 %

Shares of DSGX opened at $71.43 on Friday. The Descartes Systems Group Inc. has a 12-month low of $56.19 and a 12-month high of $91.39. The business’s fifty day moving average is $64.21 and its 200 day moving average is $66.51. The stock has a market cap of $6.06 billion, a P/E ratio of 67.39 and a beta of 1.04.

The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last issued its quarterly earnings data on Wednesday, June 1st. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The Descartes Systems Group had a return on equity of 9.17% and a net margin of 20.57%. The business had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $113.97 million. During the same period last year, the business earned $0.21 EPS. The business’s revenue was up 17.8% on a year-over-year basis. On average, analysts expect that The Descartes Systems Group Inc. will post 1.1 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Raymond James reduced their price objective on shares of The Descartes Systems Group from $83.00 to $71.00 and set a “market perform” rating for the company in a research report on Thursday, June 2nd. TD Securities reduced their price objective on shares of The Descartes Systems Group from $95.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. BMO Capital Markets reduced their price objective on shares of The Descartes Systems Group from $81.00 to $68.00 in a research report on Thursday, June 2nd. Finally, Stephens reduced their price objective on shares of The Descartes Systems Group to $80.00 in a research report on Friday, June 3rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus target price of $76.38.

The Descartes Systems Group Company Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

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