Cidel Asset Management Inc. Grows Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• Cidel Asset Management Inc. increased its holdings in The Descartes Systems Group by 31.9% during Q2, owning 142,322 shares worth $14.4 million.
• The Descartes Systems Group reported Q3 earnings of $0.43 per share, missing analyst estimates of $0.49, despite a 10% year-over-year revenue increase.
• Analysts have a consensus rating of "Moderate Buy" for DSGX shares, with a price target averaging $121.80, indicating positive sentiment towards the stock.

Cidel Asset Management Inc. increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 31.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,322 shares of the technology company's stock after buying an additional 34,411 shares during the period. Cidel Asset Management Inc. owned about 0.17% of The Descartes Systems Group worth $14,428,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position 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 valued at $719,370,000 after purchasing an additional 936,718 shares during the last quarter. Granahan Investment Management LLC boosted its holdings 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 valued at $38,213,000 after buying an additional 332,508 shares in the last quarter. Nuveen LLC acquired a new position in shares of The Descartes Systems Group in the 1st quarter valued at $21,074,000. Fiera Capital Corp boosted its stake in 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 purchasing an additional 202,973 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its stake in 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 purchasing an additional 181,086 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Up 1.2%

Shares of DSGX stock opened at $96.28 on Friday. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 56.97 and a beta of 0.77. The Descartes Systems Group Inc. has a fifty-two week low of $91.00 and a fifty-two week high of $124.31. The firm's 50 day moving average price is $99.25 and its two-hundred day moving average price is $103.00.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The business had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DSGX shares. Wall Street Zen upgraded shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. TD Cowen reiterated a "buy" rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. TD Securities started coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They set a "buy" rating and a $121.00 target price for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of The Descartes Systems Group in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $121.80.

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.

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