The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Position Lifted by Bank of Montreal Can

Bank of Montreal Can increased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,545,027 shares of the technology company’s stock after purchasing an additional 21,105 shares during the period. Bank of Montreal Can owned approximately 1.81% of The Descartes Systems Group worth $147,434,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DSGX. Westfield Capital Management Co. LP bought a new stake in The Descartes Systems Group during the first quarter worth approximately $47,481,000. Price T Rowe Associates Inc. MD lifted its stake in shares of The Descartes Systems Group by 3.8% in 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 last quarter. Riverbridge Partners LLC boosted its holdings in shares of The Descartes Systems Group by 36.6% during the 1st quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock worth $89,389,000 after buying an additional 261,688 shares during the period. Public Employees Retirement Association of Colorado grew its stake in The Descartes Systems Group by 3,799.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 260,002 shares of the technology company’s stock valued at $21,856,000 after buying an additional 253,334 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in The Descartes Systems Group in the 2nd quarter valued at $20,608,000. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stephens boosted their target price on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Scotiabank increased their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research note on Friday, May 31st. Barclays raised their target price on The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a report on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $103.55 on Tuesday. The stock has a market capitalization of $8.84 billion, a P/E ratio of 73.96 and a beta of 0.98. The Descartes Systems Group Inc. has a 52 week low of $69.59 and a 52 week high of $104.71. The stock has a fifty day moving average of $98.98 and a 200-day moving average of $96.10.

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

The Descartes Systems Group Company 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.