Kathmere Capital Management LLC Takes Position in The Descartes Systems Group Inc. $DSGX

Kathmere Capital Management LLC acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 7,650 shares of the technology company’s stock, valued at approximately $547,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in The Descartes Systems Group by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after purchasing an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of The Descartes Systems Group by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after buying an additional 660 shares during the last quarter. Amundi raised its position in shares of The Descartes Systems Group by 74.5% in the second quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after buying an additional 35,132 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of The Descartes Systems Group by 25.6% in the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock worth $127,000 after buying 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 second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $72.10 on Wednesday. The company has a 50 day simple moving average of $71.40 and a 200-day simple moving average of $73.84. The company has a market capitalization of $6.18 billion, a P/E ratio of 36.05 and a beta of 0.64. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, research analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DSGX. Loop Capital reaffirmed a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. Zacks Research cut The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Finally, Raymond James Financial cut their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

The Descartes Systems Group Profile

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.