1832 Asset Management L.P. Has $25.15 Million Position in The Descartes Systems Group Inc. $DSGX

Key Points

• 1832 Asset Management L.P. increased its stake in The Descartes Systems Group by 12.2% by acquiring 27,089 shares, bringing its total ownership to about 249,466 shares valued at $25.15 million.
• Institutional investors hold a significant portion of the company, with 77.73% of the stock owned by various firms, including recent acquisitions by Cullen Frost Bankers Inc. and Johnson Financial Group Inc..
• The Descartes Systems Group reported earnings of $0.41 per share, which was below analysts’ expectations of $0.46 per share, while experiencing an 11.5% year-over-year revenue growth totaling $168.74 million.

1832 Asset Management L.P. grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 12.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 249,466 shares of the technology company's stock after buying an additional 27,089 shares during the quarter. 1832 Asset Management L.P. owned 0.29% of The Descartes Systems Group worth $25,154,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its holdings in shares of The Descartes Systems Group by 1.9% during the 1st quarter. Ameriprise Financial Inc. now owns 488,271 shares of the technology company's stock worth $49,232,000 after acquiring an additional 9,023 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of The Descartes Systems Group by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after buying an additional 936,718 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of The Descartes Systems Group by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after buying an additional 181,086 shares during the period. Wellington Management Group LLP lifted its position in shares of The Descartes Systems Group by 30.2% during the 1st quarter. Wellington Management Group LLP now owns 10,357 shares of the technology company's stock worth $1,042,000 after buying an additional 2,400 shares during the period. Finally, Korea Investment CORP grew its position in The Descartes Systems Group by 4.3% in the first quarter. Korea Investment CORP now owns 44,101 shares of the technology company's stock valued at $4,439,000 after acquiring an additional 1,800 shares during the period. 77.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on DSGX. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Morgan Stanley began coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective on the stock. Barclays cut their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. Finally, Royal Bank Of Canada decreased their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Stock Up 1.8%

NASDAQ DSGX traded up $1.78 on Wednesday, reaching $99.70. The company had a trading volume of 715,219 shares, compared to its average volume of 351,649. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 60.06 and a beta of 0.81. The stock's 50 day moving average is $102.34 and its 200-day moving average is $104.97. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The firm had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business's revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.