The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Bought 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 lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 29.3% in the first quarter, according to its most recent filing 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 quarter. 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 institutional investors have also recently bought and sold shares of the stock. LPL Financial LLC grew its stake in shares of The Descartes Systems Group by 34.1% in the 4th quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock valued at $2,428,000 after purchasing an additional 5,435 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of The Descartes Systems Group by 100.2% during the 4th quarter. JPMorgan Chase & Co. now owns 126,334 shares of the technology company's stock worth $14,352,000 after acquiring an additional 63,236 shares during the period. Wellington Management Group LLP raised its position 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 valued at $904,000 after purchasing an additional 438 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $67,934,000 after buying an additional 110,329 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of The Descartes Systems Group by 42.9% in the 4th 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 in the last quarter. 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 commented on the company. Royal Bank Of Canada cut their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Morgan Stanley began coverage on 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. Finally, Barclays lowered their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report 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 given a strong buy rating to the company's stock. According to MarketBeat, The Descartes Systems Group has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded down $1.55 during midday trading on Thursday, reaching $97.84. 388,523 shares of the stock were exchanged, compared to its average volume of 347,180. The company has a 50 day simple moving average of $102.54 and a 200 day simple moving average of $106.19. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31. The stock has a market capitalization of $8.40 billion, a P/E ratio of 58.94 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results 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 company had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The Descartes Systems Group's revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.