TD Waterhouse Canada Inc. Acquires 1,362 Shares of The Descartes Systems Group Inc. $DSGX

TD Waterhouse Canada Inc. lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 14.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,707 shares of the technology company’s stock after acquiring an additional 1,362 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in The Descartes Systems Group were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DSGX. Price T Rowe Associates Inc. MD boosted its holdings in The Descartes Systems Group by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock worth $719,370,000 after purchasing an additional 936,718 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of The Descartes Systems Group by 715.5% during the 1st quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company’s stock valued at $38,213,000 after buying an additional 332,508 shares during the period. Nuveen LLC purchased a new position in shares of The Descartes Systems Group in the 1st quarter worth $21,074,000. Fiera Capital Corp grew its holdings in shares of The Descartes Systems Group by 8.0% in the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company’s stock worth $276,705,000 after acquiring an additional 202,973 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in The Descartes Systems Group by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company’s stock valued at $196,412,000 after acquiring an additional 181,086 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DSGX shares. TD Securities initiated coverage on The Descartes Systems Group in a research note on Friday, October 3rd. They set a “buy” rating and a $121.00 price target for the company. TD Cowen reaffirmed a “buy” rating and set a $121.00 target price on shares of The Descartes Systems Group in a report on Friday, October 3rd. CIBC cut their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Morgan Stanley lowered their target price on The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average target price of $120.70.

The Descartes Systems Group Stock Performance

DSGX stock opened at $81.49 on Friday. The company’s fifty day moving average price is $92.37 and its 200-day moving average price is $100.39. The Descartes Systems Group Inc. has a one year low of $78.88 and a one year high of $124.31. The company has a market capitalization of $7.01 billion, a PE ratio of 48.22 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The company had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.