The Descartes Systems Group Inc. $DSGX Shares Bought by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments Inc. increased its holdings in The Descartes Systems Group by 176.5% in the second quarter, now owning 117,600 shares valued at approximately $11.9 million.
• The company reported earnings of $0.43 per share for the last quarter, missing analysts' expectations of $0.49, but showed a 10% year-over-year revenue growth with $178.98 million in revenue.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with a price target of around $121.80.

Montrusco Bolton Investments Inc. lifted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 176.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,600 shares of the technology company's stock after purchasing an additional 75,061 shares during the period. Montrusco Bolton Investments Inc. owned about 0.14% of The Descartes Systems Group worth $11,922,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of The Descartes Systems Group in the 1st quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of The Descartes Systems Group in the first quarter worth approximately $49,000. Parallel Advisors LLC increased its position in shares of The Descartes Systems Group by 35.1% in the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock worth $59,000 after acquiring an additional 152 shares in the last quarter. GAMMA Investing LLC increased its position in shares of The Descartes Systems Group by 23.2% in the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock worth $63,000 after acquiring an additional 117 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new position in shares of The Descartes Systems Group in the first quarter worth approximately $141,000. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $95.48 on Monday. The company's 50 day moving average price is $100.01 and its 200 day moving average price is $103.18. The Descartes Systems Group Inc. has a 52 week low of $91.00 and a 52 week high of $124.31. The company has a market capitalization of $8.21 billion, a PE ratio of 56.50 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The company had revenue of $178.98 million for the quarter, compared to analysts' expectations of $176.51 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business's revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. TD Securities assumed coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They issued a "buy" rating and a $121.00 target price on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of The Descartes Systems Group in a research report on Wednesday, October 8th. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. TD Cowen reissued a "buy" rating and issued a $121.00 target price on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Finally, Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.80.

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.

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