JPMorgan Chase & Co. Raises Position in The Descartes Systems Group Inc. $DSGX

Key Points

• JPMorgan Chase boosted its stake in The Descartes Systems Group by 74% in Q3, adding 62,686 shares to hold 147,440 shares worth about $13.9 million, as institutional ownership totals roughly 77.73%.
• The company reported a beat for the quarter with $0.52 EPS vs. $0.50 expected and revenue of $192.37 million (vs. $188.09M), a 15.1% year‑over‑year increase.
• Analysts have a consensus rating of "Moderate Buy" with a $108.64 target, while the stock trades near $69.62 (market cap ~$6.0B), indicating a sizeable gap between current price and analyst targets.

JPMorgan Chase & Co. lifted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 74.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,440 shares of the technology company's stock after purchasing an additional 62,686 shares during the quarter. JPMorgan Chase & Co. owned about 0.17% of The Descartes Systems Group worth $13,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DSGX. Ritholtz Wealth Management increased its stake in The Descartes Systems Group by 1.7% in the third quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company's stock valued at $627,000 after purchasing an additional 114 shares during the last quarter. AXA S.A. boosted its stake in The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company's stock worth $681,000 after buying an additional 130 shares during the last quarter. Versant Capital Management Inc grew its holdings in The Descartes Systems Group by 24.8% in the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company's stock valued at $62,000 after buying an additional 131 shares during the period. Reynders McVeigh Capital Management LLC grew its holdings in The Descartes Systems Group by 0.3% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company's stock valued at $5,207,000 after buying an additional 140 shares during the period. Finally, Orion Porfolio Solutions LLC increased its stake in shares of The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company's stock valued at $368,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analyst Weigh In

DSGX has been the topic of several recent analyst reports. Raymond James Financial upgraded shares of The Descartes Systems Group from a "market perform" rating to an "outperform" rating and set a $118.00 price objective on the stock in a report on Thursday, December 4th. Barclays lowered their target price on shares of The Descartes Systems Group from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, March 12th. BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $95.00 to $82.00 and set a "market perform" rating on the stock in a research note on Thursday, March 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Finally, Royal Bank Of Canada set a $126.00 price objective on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.64.

The Descartes Systems Group Trading Down 2.8%

NASDAQ DSGX opened at $69.62 on Friday. The stock has a market cap of $5.99 billion, a P/E ratio of 37.43 and a beta of 0.77. The company's fifty day simple moving average is $71.21 and its 200-day simple moving average is $84.09. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business had revenue of $192.37 million during the quarter, compared to analyst estimates of $188.09 million. During the same period last year, the business earned $0.43 EPS. The business's revenue was up 15.1% on a year-over-year basis. On average, research analysts expect 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 NASDAQ: DSGX is a global provider of cloud-based logistics and supply chain management solutions. The company's software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes' modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.

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