Tobam Cuts Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Tobam reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 45.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 774 shares of the technology company’s stock after selling 649 shares during the period. Tobam’s holdings in The Descartes Systems Group were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in The Descartes Systems Group by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after acquiring an additional 278,796 shares during the last quarter. Vanguard Group Inc. increased its position in The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after purchasing an additional 40,897 shares during the period. Conestoga Capital Advisors LLC increased its holdings in The Descartes Systems Group by 2.2% during the second quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock valued at $301,764,000 after buying an additional 66,645 shares during the period. Fiera Capital Corp increased its holdings in shares of The Descartes Systems Group by 9.3% in the 4th quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock valued at $204,169,000 after acquiring an additional 206,193 shares during the period. Finally, Geneva Capital Management LLC grew its stake in The Descartes Systems Group by 0.4% in the fourth quarter. Geneva Capital Management LLC now owns 1,468,407 shares of the technology company’s stock valued at $123,434,000 after purchasing an additional 6,497 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 1.0 %

Shares of NASDAQ DSGX opened at $100.89 on Friday. The stock has a fifty day simple moving average of $98.84 and a 200-day simple moving average of $94.65. The Descartes Systems Group Inc. has a twelve month low of $69.59 and a twelve month high of $104.71. The stock has a market capitalization of $8.61 billion, a PE ratio of 72.06 and a beta of 0.98.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. BMO Capital Markets upped their price target on The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Thursday, May 30th. Scotiabank lifted their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research report on Friday, May 31st. Royal Bank of Canada upped their price objective on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Barclays raised their price target on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research note on Friday, May 17th. Finally, Stephens raised their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.