J. Safra Sarasin Holding AG Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• J. Safra Sarasin Holding AG acquired 29,015 shares of The Descartes Systems Group Inc. for approximately $2.92 million during the first quarter, contributing to a significant overall institutional ownership of 77.73%.
• While the company's stock is currently rated as a "Moderate Buy," several analysts have recently lowered their target prices, including Barclays, which cut their target from $118 to $108.
• In its latest earnings report, The Descartes Systems Group posted a net margin of 21.67%, with revenue of $168.74 million, a slight miss compared to consensus estimates.

J. Safra Sarasin Holding AG acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,015 shares of the technology company's stock, valued at approximately $2,921,000.

A number of other large investors also recently modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after purchasing an additional 2,800,492 shares during the last quarter. Praesidium Investment Management Company LLC bought a new stake in The Descartes Systems Group in the 4th quarter worth about $54,724,000. Fiera Capital Corp increased its stake in The Descartes Systems Group by 8.0% in the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock valued at $276,705,000 after buying an additional 202,973 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in The Descartes Systems Group in the 4th quarter valued at about $19,392,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of The Descartes Systems Group by 25.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company's stock worth $63,183,000 after buying an additional 125,146 shares in the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX traded down $0.85 during trading hours on Thursday, hitting $102.93. The stock had a trading volume of 84,865 shares, compared to its average volume of 332,849. The company has a 50 day simple moving average of $103.97 and a two-hundred day simple moving average of $106.82. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 61.98 and a beta of 0.81. The Descartes Systems Group Inc. has a one year low of $92.00 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its 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 business had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The Descartes Systems Group's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research analyst reports. Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Stephens decreased their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley began coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target on the stock. Royal Bank Of Canada decreased their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Finally, Barclays dropped their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

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.