Montrusco Bolton Investments Inc. Increases Stock Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Montrusco Bolton increased its stake in The Descartes Systems Group by 50.6% in Q4 to 192,740 shares, representing about 0.22% of the company and valued at roughly $16.93 million.
• Multiple other institutions also raised positions (e.g., M&T +38.8%, Louisbourg +92.4%, Harbor +43.5%), and hedge funds/institutional investors now own 77.73% of DSGX.
• Analysts have cut targets but the consensus remains a Moderate Buy with a $105.45 price target, while DSGX trades near $72 (P/E 38.7); the company recently beat Q results (EPS $0.52 vs. $0.50, revenue +15.1% YoY).

Montrusco Bolton Investments Inc. grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 50.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,740 shares of the technology company's stock after acquiring an additional 64,777 shares during the quarter. Montrusco Bolton Investments Inc. owned about 0.22% of The Descartes Systems Group worth $16,931,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. M&T Bank Corp boosted its holdings in shares of The Descartes Systems Group by 38.8% during the 4th quarter. M&T Bank Corp now owns 16,094 shares of the technology company's stock valued at $1,411,000 after acquiring an additional 4,501 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of The Descartes Systems Group by 3.9% during the 4th quarter. Ritholtz Wealth Management now owns 6,911 shares of the technology company's stock valued at $606,000 after acquiring an additional 257 shares during the last quarter. Crown Oak Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 1.6% during the 4th quarter. Crown Oak Advisors LLC now owns 43,559 shares of the technology company's stock valued at $3,818,000 after acquiring an additional 702 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of The Descartes Systems Group by 43.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,129 shares of the technology company's stock valued at $800,000 after acquiring an additional 2,766 shares during the last quarter. Finally, Louisbourg Investments Inc. boosted its holdings in shares of The Descartes Systems Group by 92.4% during the 4th quarter. Louisbourg Investments Inc. now owns 71,863 shares of the technology company's stock valued at $6,313,000 after acquiring an additional 34,515 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Scotiabank dropped their price target on shares of The Descartes Systems Group from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, February 4th. BMO Capital Markets dropped 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 report on Thursday, March 12th. Morgan Stanley reduced their price target on shares of The Descartes Systems Group from $115.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, March 12th. Weiss Ratings lowered shares of The Descartes Systems Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, April 9th. Finally, Zacks Research lowered shares of The Descartes Systems Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.45.

The Descartes Systems Group Stock Down 0.4%

NASDAQ DSGX opened at $72.00 on Friday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35. The firm has a market capitalization of $6.19 billion, a P/E ratio of 38.71 and a beta of 0.71. The company has a 50-day moving average price of $69.97 and a 200-day moving average price of $80.17.

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 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $192.37 million during the quarter, compared to analyst estimates of $188.09 million. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 2.62 EPS for the current year.

The Descartes Systems Group Company Profile

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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