Envestnet Asset Management Inc. Raises Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Envestnet Asset Management Inc. increased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 53.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,665 shares of the technology company’s stock after acquiring an additional 86,998 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.29% of The Descartes Systems Group worth $24,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in The Descartes Systems Group by 4.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after acquiring an additional 158 shares in the last quarter. Bank of Nova Scotia Trust Co. boosted its stake in The Descartes Systems Group by 0.3% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock worth $4,332,000 after purchasing an additional 173 shares during the last quarter. Prudential PLC boosted its stake in The Descartes Systems Group by 1.8% during the 4th quarter. Prudential PLC now owns 10,778 shares of the technology company’s stock worth $906,000 after purchasing an additional 193 shares during the last quarter. Park Place Capital Corp boosted its stake in The Descartes Systems Group by 31.6% during the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in The Descartes Systems Group by 18.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,417 shares of the technology company’s stock worth $137,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $102.54 on Monday. The firm’s 50-day moving average is $98.96 and its two-hundred day moving average is $96.01. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $104.71. The stock has a market capitalization of $8.75 billion, a P/E ratio of 73.24 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DSGX shares. Raymond James lifted their target price on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research note on Friday, May 31st. TD Securities lifted their target price on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. CIBC lifted their target price on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.00.

The Descartes Systems Group Profile

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.