Blair William & Co. IL Purchases 17,283 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• Blair William & Co. IL increased its stake in The Descartes Systems Group by 5.3%, owning a total of 343,241 shares valued at approximately $34.6 million.
• Several hedge funds raised or established stakes in The Descartes Systems Group, collectively owning 77.73% of the stock.
• The company's latest earnings report showed a missed EPS estimate of $0.41 compared to expectations of $0.46, with revenues of $168.74 million failing to meet analyst projections.

Blair William & Co. IL grew its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 5.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 343,241 shares of the technology company's stock after acquiring an additional 17,283 shares during the quarter. Blair William & Co. IL owned about 0.40% of The Descartes Systems Group worth $34,609,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of The Descartes Systems Group during the first quarter worth about $25,000. GeoWealth Management LLC grew its stake in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after purchasing an additional 132 shares during the period. Cullen Frost Bankers Inc. acquired a new position in The Descartes Systems Group during the first quarter worth about $49,000. Optiver Holding B.V. purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth approximately $66,000. Finally, Johnson Financial Group Inc. grew its holdings in The Descartes Systems Group by 830.9% in the fourth quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after purchasing an additional 781 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 1.3%

Shares of The Descartes Systems Group stock traded down $1.32 during midday trading on Thursday, hitting $102.46. The company's stock had a trading volume of 377,199 shares, compared to its average volume of 334,546. The stock has a 50-day simple moving average of $103.97 and a 200-day simple moving average of $106.82. The firm has a market capitalization of $8.80 billion, a P/E ratio of 61.72 and a beta of 0.81. The Descartes Systems Group Inc. has a 1-year low of $92.00 and a 1-year 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 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 firm had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. The Descartes Systems Group's revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on DSGX shares. Stephens dropped their price objective 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 initiated coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Royal Bank Of Canada lowered their price target 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. Barclays decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Finally, Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.