AGF Management Ltd. Purchases 7,570 Shares of 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. grew its stake 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 filing with the Securities and Exchange Commission. The institutional investor owned 110,517 shares of the technology company's stock after purchasing an additional 7,570 shares during the period. AGF Management Ltd. owned approximately 0.13% of The Descartes Systems Group worth $11,126,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in The Descartes Systems Group during the first quarter worth about $25,000. GeoWealth Management LLC boosted its stake in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after acquiring an additional 132 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in The Descartes Systems Group during the first quarter worth about $49,000. Optiver Holding B.V. bought a new stake in The Descartes Systems Group during the fourth quarter worth about $66,000. Finally, Johnson Financial Group Inc. boosted its stake in 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 worth $101,000 after acquiring an additional 781 shares in the last quarter. Institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DSGX shares. Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. 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. Royal Bank Of Canada dropped their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. Finally, Morgan Stanley started coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Trading Up 0.4%

DSGX stock traded up $0.38 during midday trading on Friday, reaching $98.22. 305,861 shares of the company's stock traded hands, compared to its average volume of 464,594. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The stock has a market cap of $8.43 billion, a P/E ratio of 59.17 and a beta of 0.81. The stock's 50-day moving average is $102.39 and its 200 day moving average is $105.93.

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 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same period in the prior year, the company posted $0.40 earnings per share. The firm's quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.