Truist Financial Corp Buys 975 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Truist Financial Corp boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,458 shares of the technology company’s stock after purchasing an additional 975 shares during the period. Truist Financial Corp’s holdings in The Descartes Systems Group were worth $819,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in The Descartes Systems Group in the 1st quarter worth about $28,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares in the last quarter. Park Place Capital Corp raised its position in shares of The Descartes Systems Group by 48.5% in the first 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 period. Intact Investment Management Inc. purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at approximately $61,000. Finally, Andra AP fonden bought a new position in The Descartes Systems Group in the 2nd quarter worth approximately $77,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $104.24 on Tuesday. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $106.50. The business has a 50 day moving average of $99.72 and a 200 day moving average of $97.08. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 74.46 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. As a group, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DSGX. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, BMO Capital Markets upped 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 given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $104.83.

About The Descartes Systems Group

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.