JPMorgan Chase & Co. Increases Holdings in The Descartes Systems Group Inc. $DSGX

JPMorgan Chase & Co. boosted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 74.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,440 shares of the technology company’s stock after buying an additional 62,686 shares during the period. JPMorgan Chase & Co. owned 0.17% of The Descartes Systems Group worth $13,893,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp boosted its position in shares of The Descartes Systems Group by 2.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock valued at $400,969,000 after acquiring an additional 80,309 shares during the last quarter. Franklin Resources Inc. raised its stake in The Descartes Systems Group by 7.0% during the second quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock worth $186,749,000 after purchasing an additional 120,137 shares during the period. Norges Bank acquired a new position in The Descartes Systems Group in the 2nd quarter valued at about $117,678,000. CIBC Asset Management Inc boosted its holdings in The Descartes Systems Group by 15.3% in the 3rd quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock valued at $91,369,000 after purchasing an additional 127,762 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $91,155,000. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DSGX shares. BMO Capital Markets reduced their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Scotiabank reduced their price objective on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Finally, Morgan Stanley raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Buy” and an average price target of $114.20.

The Descartes Systems Group Trading Down 2.2%

DSGX opened at $68.18 on Thursday. The stock’s 50-day moving average price is $76.61 and its 200 day moving average price is $87.46. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $117.35. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 38.52 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. The company had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The Descartes Systems Group’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.