PCJ Investment Counsel Ltd. Purchases 7,140 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• PCJ Investment Counsel Ltd. increased its stake in The Descartes Systems Group Inc. by 25%, owning 35,710 shares valued at approximately $3.60 million.
• Several institutional investors, including Geode Capital Management and GAMMA Investing, also raised their holdings in The Descartes Systems Group, indicating strong interest in the company.
• Analysts have issued varying ratings on the stock, with the average rating being a "Moderate Buy" and an average price target of $122.18.

PCJ Investment Counsel Ltd. lifted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 25.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,710 shares of the technology company's stock after buying an additional 7,140 shares during the quarter. The Descartes Systems Group comprises 1.4% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 25th biggest position. PCJ Investment Counsel Ltd.'s holdings in The Descartes Systems Group were worth $3,599,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in The Descartes Systems Group during the 1st quarter worth approximately $25,000. GeoWealth Management LLC increased its holdings in shares of 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 buying an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of The Descartes Systems Group in the 1st quarter worth $49,000. Optiver Holding B.V. bought a new position in shares of The Descartes Systems Group in the 4th quarter worth $66,000. Finally, Johnson Financial Group Inc. increased its holdings in shares of The Descartes Systems Group by 830.9% in the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock worth $101,000 after buying an additional 781 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock traded down $1.23 during trading on Friday, hitting $101.23. The company's stock had a trading volume of 235,352 shares, compared to its average volume of 387,164. The company has a fifty day simple moving average of $103.48 and a two-hundred day simple moving average of $106.52. The company has a market capitalization of $8.69 billion, a PE ratio of 60.98 and a beta of 0.81. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business 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 firm's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. As a group, analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on DSGX. Royal Bank Of Canada decreased their price target on shares of 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. Morgan Stanley began 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 on the stock. Wall Street Zen cut shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Barclays cut their price objective 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 note on Thursday, June 5th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and a consensus target price of $122.18.

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.