Allspring Global Investments Holdings LLC Purchases 118,146 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Allspring Global Investments Holdings LLC boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 546,425 shares of the technology company’s stock after buying an additional 118,146 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.64% of The Descartes Systems Group worth $50,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $92,571,000. Clearbridge Investments LLC bought a new position in The Descartes Systems Group in the 4th quarter worth $36,767,000. Public Employees Retirement Association of Colorado lifted its position in shares of The Descartes Systems Group by 3,799.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 260,002 shares of the technology company’s stock worth $21,856,000 after purchasing an additional 253,334 shares during the period. Fiera Capital Corp boosted its stake in shares of The Descartes Systems Group by 9.3% during the 4th quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock valued at $204,169,000 after purchasing an additional 206,193 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 8.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock valued at $160,912,000 after buying an additional 154,110 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $99.01 on Thursday. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $100.69. The firm’s 50-day moving average is $95.67 and its 200 day moving average is $90.62. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 70.72 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The firm had revenue of $151.30 million during the quarter, compared to the consensus estimate of $151.80 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on DSGX shares. BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Thursday, May 30th. Stephens lifted their price target on The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Scotiabank increased their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a report on Friday, May 31st. Redburn Atlantic initiated coverage on shares of The Descartes Systems Group in a report on Tuesday, May 14th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, TD Securities increased their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $102.00.

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.