The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Fiera Capital Corp

Key Points

• Fiera Capital Corp has increased its stake in The Descartes Systems Group by 8.0%, owning 2,745,848 shares worth $276.7 million as of the end of the first quarter.
• Several other institutional investors, including Mackenzie Financial Corp and Franklin Resources Inc., have also significantly increased their holdings in The Descartes Systems Group.
• The company reported a miss on earnings with an EPS of $0.41 compared to analysts' expectations of $0.46, despite showing a revenue increase of 11.5% year-over-year.

Fiera Capital Corp boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 8.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,745,848 shares of the technology company's stock after buying an additional 202,973 shares during the quarter. Fiera Capital Corp owned 3.21% of The Descartes Systems Group worth $276,705,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DSGX. NBC Securities Inc. purchased a new stake in shares of The Descartes Systems Group in the 1st quarter valued at approximately $25,000. GeoWealth Management LLC increased its position in shares of The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of The Descartes Systems Group in the 1st quarter valued at approximately $49,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $57,000. Finally, Optiver Holding B.V. purchased a new position in shares of The Descartes Systems Group in the 4th quarter valued at $66,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on DSGX shares. Royal Bank Of Canada dropped their target price 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. Morgan Stanley began coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price on the stock. Barclays decreased their price target 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. Finally, Stephens decreased their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX traded down $0.84 during mid-day trading on Friday, hitting $104.92. 249,244 shares of the company's stock traded hands, compared to its average volume of 334,604. The firm's 50 day simple moving average is $104.75 and its 200 day simple moving average is $107.07. The Descartes Systems Group Inc. has a 1 year low of $90.61 and a 1 year high of $124.31. The company has a market cap of $9.00 billion, a PE ratio of 63.19 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business's revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.