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

Key Points

• Montrusco Bolton Investments acquired 254,503 shares of Descartes Systems Group worth approximately $20.6 million, representing a 0.30% stake. Institutional investors collectively own 77.73% of the company.
• Descartes reported quarterly earnings of $0.57 per share, in line with estimates, while revenue rose 11.8% year over year to $198.12 million. Analysts expect full-year earnings of approximately $2.37 per share.
• The stock traded at $84.88, and analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $100.33.

Montrusco Bolton Investments Inc. acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 254,503 shares of the technology company's stock, valued at approximately $20,636,000. Montrusco Bolton Investments Inc. owned 0.30% of The Descartes Systems Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DSGX. Janus Henderson Group PLC raised its stake in shares of The Descartes Systems Group by 4.1% in the first quarter. Janus Henderson Group PLC now owns 2,574,468 shares of the technology company's stock valued at $184,127,000 after buying an additional 100,937 shares during the period. Jupiter Topco LLC bought a new stake in The Descartes Systems Group in the 2nd quarter valued at about $181,742,000. Arrowstreet Capital Limited Partnership raised its stake in The Descartes Systems Group by 74.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company's stock valued at $152,898,000 after acquiring an additional 743,104 shares during the period. The Manufacturers Life Insurance Company bought a new stake in The Descartes Systems Group in the 2nd quarter valued at about $141,403,000. Finally, Wellington Management Group LLP lifted its holdings in The Descartes Systems Group by 640.7% during the second quarter. Wellington Management Group LLP now owns 1,363,426 shares of the technology company's stock valued at $94,402,000 after purchasing an additional 1,179,345 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

NASDAQ DSGX traded up $1.21 during trading hours on Tuesday, hitting $84.88. The company had a trading volume of 567,616 shares, compared to its average volume of 616,601. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $98.25. The firm has a 50 day simple moving average of $78.75 and a 200 day simple moving average of $74.10. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 39.66 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The firm had revenue of $198.12 million for the quarter, compared to analysts' expectations of $197.54 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company's revenue was up 11.8% on a year-over-year basis. On average, research analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

DSGX has been the subject of a number of research reports. National Bank Financial increased their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, September 14th. Royal Bank Of Canada set a $125.00 price target on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research note on Friday, September 4th. Scotia raised their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a report on Friday, September 11th. Weiss Ratings upgraded shares of The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 21st. Finally, Loop Capital reiterated a "buy" rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.33.

The Descartes Systems Group Profile

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company's products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.

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