Sei Investments Co. Has $21.55 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Sei Investments Co. raised its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 222,489 shares of the technology company’s stock after purchasing an additional 35,208 shares during the period. Sei Investments Co. owned approximately 0.26% of The Descartes Systems Group worth $21,546,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DSGX. Brown Brothers Harriman & Co. acquired a new position in The Descartes Systems Group during the 4th quarter valued at about $27,000. Central Pacific Bank Trust Division acquired a new position in The Descartes Systems Group during the 1st quarter valued at about $28,000. Accent Capital Management LLC acquired a new position in The Descartes Systems Group during the 4th quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. boosted its stake in The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after purchasing an additional 429 shares during the last quarter. Finally, Park Place Capital Corp boosted its stake in The Descartes Systems Group by 48.5% during the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the subject of a number of analyst reports. Barclays lifted their price target on The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, September 5th. TD Securities boosted their target price on 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. Stephens boosted their target price on The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Finally, BMO Capital Markets boosted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.00.

The Descartes Systems Group Trading Down 0.3 %

The Descartes Systems Group stock opened at $102.23 on Thursday. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $104.71. The business’s 50 day simple moving average is $98.99 and its 200 day simple moving average is $96.22. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 73.02 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the previous year, the company posted $0.32 EPS. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.67 earnings per share for the current fiscal year.

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.