Triasima Portfolio Management inc. Boosts Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Triasima Portfolio Management inc. grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 90.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 253,849 shares of the technology company’s stock after purchasing an additional 120,325 shares during the quarter. The Descartes Systems Group makes up approximately 2.2% of Triasima Portfolio Management inc.’s portfolio, making the stock its 15th biggest position. Triasima Portfolio Management inc. owned 0.30% of The Descartes Systems Group worth $24,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at about $27,000. Central Pacific Bank Trust Division bought a new position in The Descartes Systems Group in the first quarter worth $28,000. Accent Capital Management LLC bought a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after buying an additional 429 shares in the last quarter. Finally, Park Place Capital Corp grew its position in shares of The Descartes Systems Group by 48.5% in the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after buying an additional 219 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded down $0.71 during trading on Friday, reaching $94.62. 226,844 shares of the company’s stock traded hands, compared to its average volume of 157,737. The company’s 50 day simple moving average is $99.05 and its two-hundred day simple moving average is $95.09. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $104.71. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 67.59 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued 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 company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Research analysts expect that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Raymond James upped their price target on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research note on Friday, May 31st. BMO Capital Markets boosted their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday. CIBC boosted their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Finally, Barclays raised their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

About The Descartes Systems Group

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.