The Descartes Systems Group Inc. $DSGX Stock Holdings Lifted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in The Descartes Systems Group by 12.4%, owning a total of 89,766 shares valued at approximately $9,038,000.
• The Descartes Systems Group reported $0.41 EPS for the quarter, missing estimates by $0.05, with revenues of $168.74 million, slightly below the consensus of $169.60 million.
• Institutional investors and hedge funds currently hold 77.73% of the shares, with varying buy, hold, and sell ratings from analysts contributing to a consensus rating of "Moderate Buy."

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 12.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,766 shares of the technology company's stock after purchasing an additional 9,910 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.10% of The Descartes Systems Group worth $9,038,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of The Descartes Systems Group by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after buying an additional 936,718 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after buying an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. raised its position in shares of The Descartes Systems Group by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company's stock worth $336,814,000 after buying an additional 46,369 shares in the last quarter. Fiera Capital Corp raised its position in shares of The Descartes Systems Group by 8.0% during the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after buying an additional 202,973 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of The Descartes Systems Group by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after buying an additional 181,086 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DSGX has been the topic of a number of recent analyst reports. Barclays dropped their price target 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 report on Thursday, June 5th. Royal Bank Of Canada dropped their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley initiated 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 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Price Performance

Shares of DSGX traded up $1.78 during mid-day trading on Wednesday, hitting $99.70. The company's stock had a trading volume of 715,219 shares, compared to its average volume of 461,888. The firm has a 50-day moving average price of $102.35 and a 200 day moving average price of $104.93. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 60.06 and a beta of 0.81. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week 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 business 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 business's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities analysts anticipate 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.