The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in The Descartes Systems Group by 46.6%, acquiring an additional 48,285 shares to hold a total of 151,972 shares worth approximately $15.3 million.
• Analysts have varying outlooks on the stock, with a consensus rating of Moderate Buy and an average price target of $122.18, reflecting optimistic long-term performance despite recent earnings misses.
• The Descartes Systems Group reported quarterly earnings of $0.41 per share, falling short of analyst estimates, but showed an 11.5% revenue increase compared to the previous year.

Alberta Investment Management Corp boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 46.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,972 shares of the technology company's stock after purchasing an additional 48,285 shares during the quarter. Alberta Investment Management Corp owned approximately 0.18% of The Descartes Systems Group worth $15,297,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Wealth Alliance LLC increased its position in shares of The Descartes Systems Group by 5.4% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock valued at $232,000 after purchasing an additional 118 shares during the last quarter. GeoWealth Management LLC grew its position in The Descartes Systems Group by 63.2% in the 4th 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 last quarter. Montrusco Bolton Investments Inc. lifted its holdings in shares of The Descartes Systems Group by 0.4% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock worth $4,282,000 after buying an additional 155 shares during the period. Shell Asset Management Co. lifted its holdings in shares of The Descartes Systems Group by 1.8% in the 4th quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company's stock worth $1,104,000 after buying an additional 172 shares during the period. Finally, Vista Finance LLC lifted its holdings in shares of The Descartes Systems Group by 7.0% in the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company's stock worth $314,000 after buying an additional 203 shares during the period. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 0.9%

DSGX traded up $1.01 during trading on Tuesday, hitting $107.47. The company's stock had a trading volume of 133,961 shares, compared to its average volume of 333,085. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 64.67 and a beta of 0.81. The business's fifty day simple moving average is $104.37 and its 200 day simple moving average is $106.84. 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 posted its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The business had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same period last year, the business earned $0.40 EPS. The Descartes Systems Group's revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts forecast 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 brokerages recently weighed in on DSGX. Morgan Stanley began coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective for the company. Barclays decreased their price objective on 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. Stephens decreased their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday. 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 for the company in a research note on Thursday, June 5th. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.18.

The Descartes Systems Group Company 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.