Channel Wealth LLC bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the second quarter, according to its most recent disclosure with the SEC. The firm bought 3,027 shares of the technology company's stock, valued at approximately $308,000.
A number of other hedge funds and other institutional investors have also modified their holdings of DSGX. Mackenzie Financial Corp increased its stake in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after acquiring an additional 2,800,492 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of The Descartes Systems Group by 15.1% in 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 acquiring an additional 936,718 shares during the last quarter. Granahan Investment Management LLC increased its stake in shares of The Descartes Systems Group by 715.5% in the 1st quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company's stock worth $38,213,000 after acquiring an additional 332,508 shares during the last quarter. Nuveen LLC acquired a new stake in shares of The Descartes Systems Group in the 1st quarter worth $21,074,000. Finally, Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 8.0% in the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after acquiring an additional 202,973 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.
The Descartes Systems Group Trading Up 2.1%
The Descartes Systems Group stock traded up $2.08 during midday trading on Thursday, reaching $102.08. 579,584 shares of the stock traded hands, compared to its average volume of 485,466. The company has a 50-day simple moving average of $102.75 and a two-hundred day simple moving average of $103.72. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The firm has a market cap of $8.77 billion, a PE ratio of 60.40 and a beta of 0.80.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The firm had revenue of $178.98 million for the quarter, compared to analysts' expectations of $176.51 million. During the same quarter last year, the business earned $0.40 earnings per share. The business's revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada lowered their target price on shares of 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. Morgan Stanley started 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 target price for the company. Finally, Barclays lowered their target price 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 note on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $123.60.
Check Out Our Latest Research Report on The Descartes Systems Group
About The Descartes Systems Group
(
Free Report)
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.
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