Montrusco Bolton Investments Inc. Buys 53,495 Shares of The Descartes Systems Group Inc. $DSGX

Montrusco Bolton Investments Inc. increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 246,235 shares of the technology company’s stock after purchasing an additional 53,495 shares during the quarter. Montrusco Bolton Investments Inc. owned 0.29% of The Descartes Systems Group worth $17,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DSGX. AXA S.A. lifted its stake in The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after purchasing an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its position in shares of The Descartes Systems Group by 0.3% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after acquiring an additional 140 shares during the period. Orion Porfolio Solutions LLC raised its stake in shares of The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after acquiring an additional 143 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of The Descartes Systems Group by 0.3% during the third quarter. PCJ Investment Counsel Ltd. now owns 48,080 shares of the technology company’s stock valued at $4,529,000 after acquiring an additional 150 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of The Descartes Systems Group by 18.7% in the fourth quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $72.79 on Friday. The company has a market capitalization of $6.24 billion, a PE ratio of 36.40 and a beta of 0.64. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The business’s fifty day simple moving average is $71.38 and its 200-day simple moving average is $74.19.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. During the same period in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Research analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Zacks Research cut The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Canaccord Genuity Group lowered their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Loop Capital restated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Weiss Ratings downgraded The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.17.

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.