Canandaigua National Bank & Trust Co. Makes New $295,000 Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Canandaigua National Bank & Trust Co. bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,047 shares of the technology company’s stock, valued at approximately $295,000.

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

The Descartes Systems Group Price Performance

Shares of DSGX stock traded up $1.45 during mid-day trading on Friday, hitting $96.61. The stock had a trading volume of 89,663 shares, compared to its average volume of 161,310. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $104.71. The firm’s 50-day moving average is $96.88 and its two-hundred day moving average is $93.49. The firm has a market capitalization of $8.25 billion, a P/E ratio of 67.97 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The firm had revenue of $151.30 million during the quarter, compared to the consensus estimate of $151.80 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Analysts expect that The Descartes Systems Group Inc. will post 1.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stephens lifted their price objective on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. CIBC upped their price target on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Scotiabank raised their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 31st. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Redburn Atlantic assumed coverage on The Descartes Systems Group in a report on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

The Descartes Systems Group 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.