The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in The Descartes Systems Group by 29.3% to a total of 33,659 shares, valued at $3,394,000, according to its recent 13F filing.
• The Descartes Systems Group reported Q2 earnings of $0.41 EPS, missing estimates of $0.46, with revenue of $168.74 million, up 11.5% year-over-year.
• Analysts have set new price targets for the company, with recommendations including an “outperform” rating from Royal Bank Of Canada and a lowered target of $108.00 from Barclays.

Townsquare Capital LLC grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 29.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,659 shares of the technology company's stock after purchasing an additional 7,632 shares during the period. Townsquare Capital LLC's holdings in The Descartes Systems Group were worth $3,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DSGX. LPL Financial LLC increased its stake in The Descartes Systems Group by 34.1% in the fourth quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock worth $2,428,000 after purchasing an additional 5,435 shares during the period. JPMorgan Chase & Co. increased its stake in The Descartes Systems Group by 100.2% in the fourth quarter. JPMorgan Chase & Co. now owns 126,334 shares of the technology company's stock worth $14,352,000 after purchasing an additional 63,236 shares during the period. Wellington Management Group LLP increased its stake in 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 worth $904,000 after purchasing an additional 438 shares during the period. Geode Capital Management LLC increased its stake in 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 worth $67,934,000 after purchasing an additional 110,329 shares during the period. Finally, Wells Fargo & Company MN increased its stake in The Descartes Systems Group by 42.9% in the fourth quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company's stock worth $748,000 after purchasing an additional 1,977 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Barclays dropped their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Finally, Royal Bank Of Canada dropped their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Stock Performance

DSGX stock traded up $0.48 during trading on Friday, reaching $98.32. 101,292 shares of the company traded hands, compared to its average volume of 345,853. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The business has a 50 day simple moving average of $102.47 and a 200 day simple moving average of $106.06. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 59.27 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $168.74 million for the quarter, compared to the consensus estimate of $169.60 million. During the same period in the previous year, the business earned $0.40 EPS. The Descartes Systems Group's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

About The Descartes Systems Group

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.