HB Wealth Management LLC Acquires Shares of 2,431 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 acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,431 shares of the technology company's stock, valued at approximately $245,000.

Other institutional investors have also modified their holdings of the company. Wealth Alliance LLC lifted its holdings in shares of The Descartes Systems Group by 5.4% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock valued at $232,000 after buying an additional 118 shares during the period. GeoWealth Management LLC increased its stake 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 in the last quarter. Montrusco Bolton Investments Inc. boosted its position in The Descartes Systems Group by 0.4% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock worth $4,282,000 after acquiring an additional 155 shares during the period. Shell Asset Management Co. grew its holdings in shares of The Descartes Systems Group by 1.8% during the 4th 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 raised its stake in shares of The Descartes Systems Group by 7.0% during the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company's stock worth $314,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stephens cut their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley started coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price for the company. 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 research report on Thursday, June 5th. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Royal Bank Of Canada cut 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. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Stock Down 2.8%

Shares of NASDAQ DSGX traded down $3.01 during trading hours on Wednesday, reaching $104.63. 182,758 shares of the stock traded hands, compared to its average volume of 333,144. The company's 50-day simple moving average is $104.19 and its two-hundred day simple moving average is $106.85. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The company has a market capitalization of $8.99 billion, a P/E ratio of 63.03 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly 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 firm had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The business's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.