Forge First Asset Management Inc. Takes $2.24 Million Position 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. purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,200 shares of the technology company's stock, valued at approximately $2,238,000. The Descartes Systems Group makes up about 1.0% of Forge First Asset Management Inc.'s holdings, making the stock its 27th largest holding.

A number of other large investors also recently added to or reduced their stakes in DSGX. Commonwealth Equity Services LLC purchased a new position in The Descartes Systems Group in the fourth quarter worth approximately $207,000. LPL Financial LLC boosted its stake in The Descartes Systems Group by 34.1% during the fourth quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock worth $2,428,000 after buying an additional 5,435 shares during the period. JPMorgan Chase & Co. boosted its stake in The Descartes Systems Group by 100.2% during the fourth quarter. JPMorgan Chase & Co. now owns 126,334 shares of the technology company's stock worth $14,352,000 after buying an additional 63,236 shares during the period. Pictet Asset Management Holding SA boosted its stake in The Descartes Systems Group by 2.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 33,316 shares of the technology company's stock worth $3,785,000 after buying an additional 908 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in The Descartes Systems Group by 35.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,739 shares of the technology company's stock worth $310,000 after buying an additional 717 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

DSGX stock traded down $3.85 during midday trading on Wednesday, reaching $103.78. 355,832 shares of the company were exchanged, compared to its average volume of 333,939. The Descartes Systems Group Inc. has a 1-year low of $92.00 and a 1-year high of $124.31. The stock's 50-day simple moving average is $104.19 and its 200 day simple moving average is $106.85. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 62.52 and a beta of 0.81.

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

Analysts Set New Price Targets

DSGX has been the subject of several research analyst reports. Stephens lowered 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. Morgan Stanley assumed 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 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 lowered their price objective 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, Royal Bank Of Canada lowered 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 research note on Thursday, June 5th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

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.