254,503 Shares in The Descartes Systems Group Inc. $DSGX Acquired by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 254,503 shares of the technology company’s stock, valued at approximately $20,636,000.

Other hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC purchased a new position in shares of The Descartes Systems Group in the third quarter worth $243,000. GAMMA Investing LLC bought a new stake in The Descartes Systems Group in the 3rd quarter worth $122,000. Moody National Bank Trust Division bought a new stake in The Descartes Systems Group in the 3rd quarter worth $874,000. Versant Capital Management Inc increased its position in shares of The Descartes Systems Group by 9.6% in the third quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company’s stock valued at $119,000 after acquiring an additional 129 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of The Descartes Systems Group by 9.0% in the second quarter. Envestnet Asset Management Inc. now owns 143,645 shares of the technology company’s stock valued at $9,946,000 after acquiring an additional 11,828 shares during the period. 77.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. National Bank Financial increased their target price on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Weiss Ratings raised The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 21st. Loop Capital restated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, October 8th. Royal Bank Of Canada set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Friday, September 4th. Finally, Scotiabank increased their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $100.33.

The Descartes Systems Group Price Performance

DSGX stock traded up $1.21 during midday trading on Tuesday, hitting $84.88. The stock had a trading volume of 567,616 shares, compared to its average volume of 616,601. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 39.66 and a beta of 0.65. The business has a 50-day moving average of $78.75 and a two-hundred day moving average of $74.10. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $98.25.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The business had revenue of $198.12 million for the quarter, compared to analysts’ expectations of $197.54 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. Research analysts predict that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company’s products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.