HB Wealth Management LLC Purchases New Shares in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• HB Wealth Management LLC acquired a new stake in The Descartes Systems Group, purchasing 2,431 shares valued at approximately $245,000.
• Institutional investors now control 77.73% of the company's stock, with several firms significantly increasing their holdings in the last quarter.
• The Descartes Systems Group recently reported disappointing earnings, missing analysts' consensus estimates with an EPS of $0.41 compared to the expected $0.46.

HB Wealth Management LLC purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,431 shares of the technology company's stock, valued at approximately $245,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of The Descartes Systems Group by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after acquiring an additional 101,290 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of The Descartes Systems Group by 1.6% in the 1st quarter. TD Asset Management Inc now owns 913,866 shares of the technology company's stock valued at $92,014,000 after acquiring an additional 14,104 shares during the last quarter. Janus Henderson Group PLC increased its holdings in The Descartes Systems Group by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 635,722 shares of the technology company's stock valued at $72,228,000 after purchasing an additional 3,554 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in The Descartes Systems Group by 25.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company's stock valued at $63,183,000 after purchasing an additional 125,146 shares during the period. Institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

DSGX has been the topic of a number of research analyst reports. Royal Bank Of Canada reduced their price target 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. Barclays reduced 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. Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday. 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, Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $122.18.

The Descartes Systems Group Trading Down 1.2%

NASDAQ DSGX traded down $1.30 during trading hours on Friday, reaching $104.46. 381,592 shares of the company traded hands, compared to its average volume of 429,706. 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 Inc. has a 12 month low of $90.61 and a 12 month high of $124.31. The stock has a market capitalization of $8.97 billion, a PE ratio of 62.93 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued 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 firm had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The Descartes Systems Group's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.