Forge First Asset Management Inc. Invests $2.24 Million in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• Forge First Asset Management Inc. has acquired a new position in The Descartes Systems Group by purchasing 22,200 shares, valued at approximately $2.24 million, making it the firm's 27th largest investment.
• Analysts have recently adjusted their price targets for The Descartes Systems Group, with estimates ranging from $108.00 to $126.00, while the current consensus rating stands at "Moderate Buy."
• The company's recent earnings report showed a net margin of 21.67% with earnings per share of $0.41, which fell short of analysts' expectations of $0.46.

Forge First Asset Management Inc. bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,200 shares of the technology company's stock, valued at approximately $2,238,000. The Descartes Systems Group makes up 1.0% of Forge First Asset Management Inc.'s investment portfolio, making the stock its 27th biggest position.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of The Descartes Systems Group during the 1st quarter valued at about $25,000. GeoWealth Management LLC grew its position in The Descartes Systems Group by 63.2% in 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 last quarter. Cullen Frost Bankers Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth about $49,000. Optiver Holding B.V. bought a new position in The Descartes Systems Group in the 4th quarter worth about $66,000. Finally, Johnson Financial Group Inc. grew its position in The Descartes Systems Group by 830.9% in the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock worth $101,000 after purchasing an additional 781 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DSGX. Royal Bank Of Canada decreased their price objective on shares of 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. Morgan Stanley assumed 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. Wall Street Zen lowered shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday. Barclays cut 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. Finally, Stephens cut their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Trading Down 1.2%

DSGX stock traded down $1.30 during midday trading on Friday, reaching $104.46. The company had a trading volume of 381,592 shares, compared to its average volume of 429,706. 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 capitalization of $8.97 billion, a P/E ratio of 62.93 and a beta of 0.81. The company has a 50 day moving average of $104.54 and a two-hundred day moving average of $106.91.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.