Pembroke Management LTD Grows Holdings in The Descartes Systems Group Inc. $DSGX

Pembroke Management LTD lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,782 shares of the technology company’s stock after buying an additional 15,258 shares during the quarter. Pembroke Management LTD owned approximately 0.12% of The Descartes Systems Group worth $10,143,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in The Descartes Systems Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company’s stock worth $12,940,000 after acquiring an additional 3,316 shares during the last quarter. M&T Bank Corp purchased a new position in shares of The Descartes Systems Group during the 1st quarter worth $1,321,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of The Descartes Systems Group by 25.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company’s stock worth $63,183,000 after purchasing an additional 125,146 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of The Descartes Systems Group by 12.4% during the first quarter. Whittier Trust Co. now owns 15,746 shares of the technology company’s stock worth $1,588,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of The Descartes Systems Group by 20.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 19,392 shares of the technology company’s stock valued at $1,955,000 after purchasing an additional 3,299 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 1.8%

Shares of DSGX stock opened at $82.84 on Tuesday. The Descartes Systems Group Inc. has a fifty-two week low of $82.42 and a fifty-two week high of $124.31. The firm’s 50 day moving average price is $96.57 and its two-hundred day moving average price is $101.92. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 49.02 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The business had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. CIBC reduced their target price on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Morgan Stanley began coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an “equal weight” rating and a $110.00 target price for the company. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of The Descartes Systems Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus target price of $121.70.

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.