Wedbush Securities Inc. Invests $329,000 in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Wedbush Securities Inc. bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,394 shares of the technology company’s stock, valued at approximately $329,000.

A number of other large investors have also added to or reduced their stakes in the stock. Triasima Portfolio Management inc. lifted its holdings in The Descartes Systems Group by 90.1% during the second quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after purchasing an additional 120,325 shares in the last quarter. Norden Group LLC purchased a new position in shares of The Descartes Systems Group in the second quarter valued at $349,000. Parkside Financial Bank & Trust increased its stake in The Descartes Systems Group by 18.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,417 shares of the technology company’s stock worth $137,000 after acquiring an additional 219 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of The Descartes Systems Group by 3.3% during the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after purchasing an additional 81,263 shares during the period. Finally, CIBC Asset Management Inc grew its stake in The Descartes Systems Group by 7.9% in the 2nd quarter. CIBC Asset Management Inc now owns 119,809 shares of the technology company’s stock worth $11,601,000 after acquiring an additional 8,733 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays increased their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Stephens raised their price target on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, CIBC boosted their target price on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.00.

The Descartes Systems Group Trading Up 0.3 %

Shares of DSGX stock opened at $98.25 on Friday. The Descartes Systems Group Inc. has a twelve month low of $69.59 and a twelve month high of $104.71. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 70.18 and a beta of 0.98. The company’s 50-day moving average price is $98.91 and its 200-day moving average price is $95.33.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced 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 return on equity of 10.21% and a net margin of 21.02%. The firm had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. During the same quarter in the prior year, the business earned $0.32 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

The Descartes Systems Group Company 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.