Montrusco Bolton Investments Inc. Grows Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Montrusco Bolton Investments Inc. boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,539 shares of the technology company’s stock after acquiring an additional 155 shares during the period. Montrusco Bolton Investments Inc.’s holdings in The Descartes Systems Group were worth $4,282,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DSGX. Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after purchasing an additional 2,800,492 shares during the last quarter. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock worth $375,047,000 after buying an additional 54,341 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in The Descartes Systems Group by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company’s stock worth $200,716,000 after buying an additional 101,290 shares in the last quarter. Franklin Resources Inc. lifted its holdings in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after buying an additional 326,643 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after purchasing an additional 639,848 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays dropped their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 5th. Scotiabank increased their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, March 26th. Royal Bank Of Canada reduced their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a research note on Thursday, June 5th. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research note on Monday. They issued an “equal weight” rating and a $110.00 price objective for the company. Finally, Stephens reduced their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $103.82 on Thursday. The company has a 50-day simple moving average of $106.18 and a 200-day simple moving average of $107.62. The firm has a market capitalization of $8.91 billion, a P/E ratio of 62.54 and a beta of 0.82. The Descartes Systems Group Inc. has a one year low of $90.61 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. During the same period in the previous year, the company earned $0.40 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.