Granahan Investment Management LLC Grows Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Granahan Investment Management LLC significantly increased its stake in The Descartes Systems Group by 715.5% in the first quarter, making it their 14th largest position in the portfolio.
• The company reported earnings of $0.43 per share, missing estimates and seeing a revenue increase of 10% year-over-year, totaling $178.98 million.
• Analysts have set a range of price targets for DSGX, with an average target of $123.60, indicating a mixed outlook amid changing ratings from various firms.

Granahan Investment Management LLC grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 715.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,982 shares of the technology company's stock after buying an additional 332,508 shares during the quarter. The Descartes Systems Group accounts for approximately 1.9% of Granahan Investment Management LLC's holdings, making the stock its 14th largest position. Granahan Investment Management LLC owned approximately 0.44% of The Descartes Systems Group worth $38,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of The Descartes Systems Group during the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth $49,000. Versant Capital Management Inc raised its holdings in The Descartes Systems Group by 2,013.5% in the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company's stock worth $111,000 after purchasing an additional 1,047 shares during the period. Intact Investment Management Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth $141,000. Finally, Vident Advisory LLC bought a new position in The Descartes Systems Group in the 1st quarter worth $220,000. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DSGX. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Royal Bank Of Canada decreased their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Finally, Barclays decreased their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $123.60.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock traded down $1.15 during trading on Wednesday, reaching $105.80. 105,243 shares of the stock traded hands, compared to its average volume of 361,481. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 62.63 and a beta of 0.80. The business has a fifty day simple moving average of $102.67 and a two-hundred day simple moving average of $104.04. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data 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 firm had revenue of $178.98 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group 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.