Bank of Montreal Can Grows Position in The Descartes Systems Group Inc. $DSGX

Bank of Montreal Can boosted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,678,473 shares of the technology company’s stock after purchasing an additional 122,378 shares during the quarter. Bank of Montreal Can owned about 1.95% of The Descartes Systems Group worth $170,613,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DSGX. Cullen Frost Bankers Inc. purchased a new stake in The Descartes Systems Group in the first quarter valued at approximately $49,000. Parallel Advisors LLC grew its stake in The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock worth $59,000 after buying an additional 152 shares during the period. GAMMA Investing LLC grew its stake in The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock worth $63,000 after buying an additional 117 shares during the period. Hilltop National Bank purchased a new stake in The Descartes Systems Group during the second quarter worth approximately $215,000. Finally, Vident Advisory LLC purchased a new stake in The Descartes Systems Group during the first quarter worth approximately $220,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several research reports. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. TD Cowen reiterated a “buy” rating and set a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 price objective for the company. CIBC decreased 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 note on Wednesday, October 29th. Finally, TD Securities initiated coverage on shares of The Descartes Systems Group in a research note on Friday, October 3rd. They set a “buy” rating and a $121.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.70.

The Descartes Systems Group Trading Up 0.0%

NASDAQ DSGX opened at $88.22 on Tuesday. The company’s fifty day simple moving average is $98.09 and its 200-day simple moving average is $102.56. The Descartes Systems Group Inc. has a 52 week low of $86.85 and a 52 week high of $124.31. The stock has a market cap of $7.58 billion, a P/E ratio of 52.20 and a beta of 0.77.

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