Bank of New York Mellon Corp boosted its stake in Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,876 shares of the technology company’s stock after buying an additional 10,636 shares during the period. Bank of New York Mellon Corp owned 0.12% of Descartes Systems Group worth $2,513,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DSGX. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Descartes Systems Group by 20.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,066 shares of the technology company’s stock valued at $123,000 after purchasing an additional 860 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Descartes Systems Group by 6.8% during the second quarter. Legal & General Group Plc now owns 7,795 shares of the technology company’s stock valued at $189,000 after purchasing an additional 495 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in shares of Descartes Systems Group by 4.9% during the second quarter. Suntrust Banks Inc. now owns 14,338 shares of the technology company’s stock valued at $348,000 after purchasing an additional 672 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Descartes Systems Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 17,253 shares of the technology company’s stock valued at $420,000 after purchasing an additional 1,064 shares during the last quarter. Finally, OxFORD Asset Management LLP lifted its holdings in shares of Descartes Systems Group by 23.0% during the second quarter. OxFORD Asset Management LLP now owns 22,763 shares of the technology company’s stock valued at $554,000 after purchasing an additional 4,249 shares during the last quarter. Hedge funds and other institutional investors own 76.46% of the company’s stock.

A number of equities analysts recently weighed in on DSGX shares. Barclays boosted their price objective on shares of Descartes Systems Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 30th. BidaskClub upgraded shares of Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Zacks Investment Research upgraded shares of Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 22nd. Royal Bank of Canada boosted their price objective on shares of Descartes Systems Group from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Finally, Raymond James Financial downgraded shares of Descartes Systems Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $33.39.

Shares of Descartes Systems Group Inc (DSGX) traded down $0.30 during mid-day trading on Monday, hitting $28.70. 54,310 shares of the stock were exchanged, compared to its average volume of 73,119. Descartes Systems Group Inc has a 12-month low of $21.00 and a 12-month high of $31.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $2,210.00, a P/E ratio of 84.41 and a beta of 0.51.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, November 29th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $62.00 million for the quarter, compared to the consensus estimate of $60.01 million. Descartes Systems Group had a net margin of 11.61% and a return on equity of 5.83%. Descartes Systems Group’s revenue for the quarter was up 20.4% on a year-over-year basis. sell-side analysts expect that Descartes Systems Group Inc will post 0.37 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was first posted by Marea Informative and is the sole property of of Marea Informative. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.mareainformativa.com/bank-of-new-york-mellon-corp-acquires-10636-shares-of-descartes-systems-group-inc-dsgx-updated-updated-updated/125444/.

Descartes Systems Group Profile

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Institutional Ownership by Quarter for Descartes Systems Group (NASDAQ:DSGX)

Receive News & Ratings for Descartes Systems Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Descartes Systems Group and related companies with MarketBeat.com's FREE daily email newsletter.