National Bank of Canada FI Has $82.65 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• National Bank of Canada FI increased its stake in The Descartes Systems Group by 12.5%, now owning approximately 0.96% of the company, valued at around $82.65 million.
• Deutsche Bank AG and Vanguard Group Inc. also boosted their positions significantly in The Descartes Systems Group during the same quarter, with Deutsche Bank's stake increasing by 80.5%.
• Despite a revenue increase of 11.5% year-over-year, Descartes missed earnings estimates, reporting $0.41 per share against a consensus of $0.46.

National Bank of Canada FI increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 12.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 822,168 shares of the technology company's stock after purchasing an additional 91,390 shares during the period. National Bank of Canada FI owned 0.96% of The Descartes Systems Group worth $82,651,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wealth Alliance LLC lifted its stake 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 purchasing an additional 118 shares during the period. GeoWealth Management LLC lifted its position in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its position in shares of The Descartes Systems Group by 0.4% during the first quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock worth $4,282,000 after purchasing an additional 155 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of The Descartes Systems Group by 1.8% during the fourth quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company's stock worth $1,104,000 after purchasing an additional 172 shares in the last quarter. Finally, Vista Finance LLC lifted its position in shares of The Descartes Systems Group by 7.0% during the first 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.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Barclays decreased their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Royal Bank Of Canada cut their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Finally, Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Stock Up 0.1%

DSGX stock traded up $0.10 during midday trading on Wednesday, hitting $99.46. 1,725,360 shares of the company traded hands, compared to its average volume of 340,078. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31. The business has a 50 day simple moving average of $102.87 and a 200-day simple moving average of $106.24. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 59.92 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same period in the prior year, the company posted $0.40 earnings per share. The firm's revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS 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.