The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,532,493 shares of the technology company’s stock after selling 12,534 shares during the period. Bank of Montreal Can owned about 1.79% of The Descartes Systems Group worth $156,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Intact Investment Management Inc. acquired a new position in shares of The Descartes Systems Group in the second quarter worth about $61,000. Blue Trust Inc. raised its stake in The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden acquired a new stake in The Descartes Systems Group during the 2nd quarter valued at $77,000. Park Place Capital Corp boosted its position in shares of The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after buying an additional 212 shares during the period. Finally, UniSuper Management Pty Ltd boosted its position in shares of The Descartes Systems Group by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,200 shares of the technology company’s stock worth $110,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 1.0 %

NASDAQ DSGX opened at $117.25 on Tuesday. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $117.95. The company has a fifty day simple moving average of $106.61 and a 200 day simple moving average of $100.73. The company has a market cap of $10.02 billion, a P/E ratio of 79.22 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released 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 Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on DSGX. Scotiabank raised their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $88.00 to $125.00 in a report on Friday, November 15th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets lifted their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Finally, Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.25.

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.