PCJ Investment Counsel Ltd. Has $3.60 Million Position in 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. raised its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,710 shares of the technology company's stock after purchasing an additional 7,140 shares during the period. The Descartes Systems Group accounts for approximately 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 and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of The Descartes Systems Group by 23.0% in the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after acquiring an additional 110,329 shares during the period. GAMMA Investing LLC boosted its position in shares of The Descartes Systems Group by 9,983.0% in the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock valued at $5,134,000 after acquiring an additional 50,414 shares during the period. Wellington Management Group LLP boosted its position in shares of The Descartes Systems Group by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company's stock valued at $904,000 after acquiring an additional 438 shares during the period. Mackenzie Financial Corp lifted its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after purchasing an additional 2,800,492 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in The Descartes Systems Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock worth $12,940,000 after purchasing an additional 3,316 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Down 0.3%

Shares of DSGX stock traded down $0.26 on Tuesday, reaching $99.03. The company had a trading volume of 150,196 shares, compared to its average volume of 333,067. The stock has a market capitalization of $8.50 billion, a PE ratio of 59.66 and a beta of 0.81. The Descartes Systems Group Inc. has a one year low of $92.00 and a one year high of $124.31. The business's 50-day moving average is $103.18 and its 200 day moving average is $106.29.

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

Analyst Ratings Changes

DSGX has been the subject of several recent analyst reports. 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 report on Thursday, June 5th. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective for the company. Wall Street Zen cut shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

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.