Geneva Capital Management LLC Has $148.01 Million Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• Geneva Capital Management LLC increased its stake in The Descartes Systems Group Inc. by purchasing an additional 8,793 shares, bringing their total holdings to approximately 1.47 million shares.
• Wall Street analysts have recently downgraded the stock's rating, with one analysis suggesting a shift from a "hold" to a "sell" rating, while others have significantly reduced their price targets for the stock.
• The Descartes Systems Group reported a missed earnings estimate for the latest quarter, with EPS of $0.41 compared to the consensus estimate of $0.46.

Geneva Capital Management LLC grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,467,921 shares of the technology company's stock after purchasing an additional 8,793 shares during the quarter. The Descartes Systems Group makes up about 2.8% of Geneva Capital Management LLC's investment portfolio, making the stock its 7th biggest position. Geneva Capital Management LLC owned 1.71% of The Descartes Systems Group worth $148,011,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DSGX. Wealth Alliance LLC increased its holdings in The Descartes Systems Group by 5.4% in the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock valued at $232,000 after purchasing an additional 118 shares in the last quarter. GeoWealth Management LLC increased its holdings 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 valued at $39,000 after purchasing an additional 132 shares in the last quarter. Montrusco Bolton Investments Inc. grew its stake in shares of The Descartes Systems Group by 0.4% during the first quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock valued at $4,282,000 after acquiring an additional 155 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of The Descartes Systems Group by 1.8% during the fourth quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company's stock valued at $1,104,000 after acquiring an additional 172 shares in the last quarter. Finally, Vista Finance LLC grew its stake in shares of The Descartes Systems Group by 7.0% during the first quarter. Vista Finance LLC now owns 3,119 shares of the technology company's stock valued at $314,000 after acquiring an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada lowered their target price on 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. Barclays lowered their target price on 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, Morgan Stanley assumed coverage on 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Price Performance

NASDAQ:DSGX traded down $0.79 during mid-day trading on Friday, reaching $101.67. The stock had a trading volume of 122,476 shares, compared to its average volume of 333,513. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 61.25 and a beta of 0.81. 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 $103.75 and its two-hundred day simple moving average is $106.73.

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