The Descartes Systems Group Inc. $DSGX Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 74.0% during the third quarter, Holdings Channel reports. The fund owned 147,440 shares of the technology company’s stock after acquiring an additional 62,686 shares during the period. JPMorgan Chase & Co.’s holdings in The Descartes Systems Group were worth $13,893,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DSGX. Mather Group LLC. acquired a new position in The Descartes Systems Group during the 3rd quarter worth $28,000. SBI Securities Co. Ltd. raised its position in The Descartes Systems Group by 77.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of The Descartes Systems Group by 24.8% in the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after buying an additional 131 shares during the period. Employees Retirement System of Texas purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $68,000. Finally, GAMMA Investing LLC grew its position in shares of The Descartes Systems Group by 42.1% during the third quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after buying an additional 262 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Royal Bank Of Canada set a $126.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. Scotiabank reduced their price objective on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $68.18 on Thursday. The stock’s 50-day moving average is $76.61 and its two-hundred day moving average is $87.46. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $117.35. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 38.52 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Company Profile

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.