AGF Management Ltd. Has $11.13 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• AGF Management Ltd. increased its stake in The Descartes Systems Group by 7.4%, owning approximately 110,517 shares worth $11 million.
• The Descartes Systems Group reported Q2 earnings of $0.41 EPS, missing the consensus estimate of $0.46 and achieving an 11.5% revenue growth year-over-year.
• Analysts show mixed sentiment on the stock, with one sell rating, three hold ratings, eight buy ratings, and a moderate buy consensus with a target price of $122.18.

AGF Management Ltd. boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,517 shares of the technology company's stock after buying an additional 7,570 shares during the period. AGF Management Ltd. owned about 0.13% of The Descartes Systems Group worth $11,126,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of The Descartes Systems Group during the first quarter valued at $25,000. GeoWealth Management LLC lifted its holdings in shares of The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after acquiring an additional 132 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of The Descartes Systems Group during the first quarter valued at $49,000. Optiver Holding B.V. bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $66,000. Finally, Johnson Financial Group Inc. lifted its holdings in shares of The Descartes Systems Group by 830.9% during the fourth quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after acquiring an additional 781 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Down 1.6%

DSGX stock traded down $1.55 during midday trading on Thursday, reaching $97.84. The stock had a trading volume of 393,071 shares, compared to its average volume of 347,482. The business has a fifty day simple moving average of $102.54 and a two-hundred day simple moving average of $106.19. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 58.94 and a beta of 0.81. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 EPS 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 return on equity of 10.53% and a net margin of 21.67%. The Descartes Systems Group's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank Of Canada cut their price objective on 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. Morgan Stanley started coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective for the company. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Barclays cut their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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.