Wealth Alliance Invests $213,000 in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Wealth Alliance acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,203 shares of the technology company’s stock, valued at approximately $213,000.

A number of other institutional investors have also modified their holdings of DSGX. Price T Rowe Associates Inc. MD grew its stake in The Descartes Systems Group by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after buying an additional 278,796 shares during the period. Vanguard Group Inc. lifted its holdings in shares of The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after acquiring an additional 40,897 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in The Descartes Systems Group by 2.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock worth $301,764,000 after purchasing an additional 66,645 shares during the period. Fiera Capital Corp increased its holdings in The Descartes Systems Group by 3.3% in the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after purchasing an additional 81,263 shares in the last quarter. Finally, Norges Bank purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $92,571,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $102.54 on Friday. The firm has a market capitalization of $8.75 billion, a PE ratio of 73.24 and a beta of 0.98. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $104.71. The business’s fifty day moving average price is $98.96 and its two-hundred day moving average price is $95.87.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on DSGX. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Raymond James increased their price objective on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday, May 31st. BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. Barclays upped their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.00.

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.