Amundi Grows Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Amundi increased its Descartes Systems Group stake by 11.4% in the first quarter, bringing its holdings to 130,186 shares valued at approximately $9.3 million. Institutional investors collectively own 77.73% of the company.
• Descartes reported quarterly EPS of $0.55, topping estimates of $0.52, while revenue rose 14.7% year over year to $166.96 million, below analysts’ $193.57 million forecast.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $102.54, compared with the stock’s recent price of $76.62.

Amundi boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,186 shares of the technology company's stock after acquiring an additional 13,334 shares during the quarter. Amundi owned 0.15% of The Descartes Systems Group worth $9,316,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Empowered Funds LLC lifted its position in shares of The Descartes Systems Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 44,499 shares of the technology company's stock worth $3,184,000 after purchasing an additional 904 shares during the last quarter. American Capital Management Inc. grew its stake in shares of The Descartes Systems Group by 12.9% during the first quarter. American Capital Management Inc. now owns 19,138 shares of the technology company's stock worth $1,370,000 after purchasing an additional 2,189 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in The Descartes Systems Group by 140.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,100,755 shares of the technology company's stock valued at $78,772,000 after buying an additional 643,071 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in The Descartes Systems Group by 106.5% in the first quarter. Quantinno Capital Management LP now owns 40,341 shares of the technology company's stock valued at $2,887,000 after buying an additional 20,808 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $76.62 on Thursday. The firm's fifty day moving average price is $72.44 and its 200 day moving average price is $71.66. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $109.00. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 38.31 and a beta of 0.62.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analysts' expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group's revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. As a group, analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DSGX shares. Loop Capital restated a "buy" rating and set a $96.00 target price on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Canadian Imperial Bank of Commerce raised their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an "outperformer" rating in a report on Thursday, June 4th. Raymond James Financial lowered their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "outperform" rating for the company in a report on Thursday, June 4th. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a "neutral" rating to a "buy" rating and cut their price target for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. Finally, Weiss Ratings raised shares of The Descartes Systems Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.54.

About The Descartes Systems Group

The Descartes Systems Group Inc NASDAQ: DSGX is a global provider of cloud-based logistics and supply chain management solutions. The company's software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes' modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.

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