MinichMacGregor Wealth Management LLC Acquires 4,193 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

MinichMacGregor Wealth Management LLC grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 84,147 shares of the technology company’s stock after acquiring an additional 4,193 shares during the quarter. The Descartes Systems Group makes up 1.8% of MinichMacGregor Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. MinichMacGregor Wealth Management LLC’s holdings in The Descartes Systems Group were worth $8,664,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in The Descartes Systems Group by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after purchasing an additional 278,796 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of The Descartes Systems Group by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after buying an additional 52,485 shares during the period. Vanguard Group Inc. lifted its stake in shares of The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after acquiring an additional 40,897 shares during the last quarter. Fiera Capital Corp boosted its holdings in 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 valued at $248,024,000 after acquiring an additional 81,263 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in The Descartes Systems Group by 4.5% during the 2nd quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after acquiring an additional 91,301 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded up $0.90 during mid-day trading on Tuesday, reaching $108.20. The stock had a trading volume of 21,967 shares, compared to its average volume of 150,284. The stock has a market cap of $9.25 billion, a PE ratio of 72.50 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $72.87 and a 1 year high of $108.77. The company has a fifty day moving average price of $102.35 and a 200 day moving average price of $98.86.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

DSGX has been the topic of several analyst reports. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research report on Thursday, September 5th. BMO Capital Markets increased their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Barclays boosted their price objective on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. Finally, Scotiabank raised their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $106.17.

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.