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

Montrusco Bolton Investments Inc. boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 246,235 shares of the technology company’s stock after acquiring an additional 53,495 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in The Descartes Systems Group were worth $17,581,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DSGX. Quarry LP purchased a new position in shares of The Descartes Systems Group in the third quarter worth about $27,000. Danske Bank A S acquired a new position in The Descartes Systems Group in the 3rd quarter worth approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in The Descartes Systems Group during the 3rd quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd lifted its stake in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock valued at $52,000 after acquiring an additional 401 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of The Descartes Systems Group by 269.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 779 shares of the technology company’s stock valued at $68,000 after acquiring an additional 568 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DSGX shares. Raymond James Financial reduced their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Canaccord Genuity Group reduced their price objective on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. BMO Capital Markets lowered their target price on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. Weiss Ratings cut The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Finally, Morgan Stanley reduced their price target on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

The Descartes Systems Group Stock Performance

DSGX stock opened at $72.79 on Friday. The firm has a market cap of $6.24 billion, a PE ratio of 36.40 and a beta of 0.64. The firm’s fifty day moving average is $71.38 and its 200 day moving average is $74.19. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Research analysts predict that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.