Acadian Asset Management LLC Lowers Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Acadian Asset Management LLC lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 30.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,300 shares of the technology company’s stock after selling 17,700 shares during the quarter. Acadian Asset Management LLC’s holdings in The Descartes Systems Group were worth $4,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $27,000. Central Pacific Bank Trust Division bought a new position in The Descartes Systems Group in the first quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in The Descartes Systems Group during the fourth quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. lifted its stake in The Descartes Systems Group by 703.3% during the first 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 last quarter. Finally, Park Place Capital Corp boosted its holdings 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 purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $97.94 on Friday. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $104.71. The stock has a market capitalization of $8.36 billion, a PE ratio of 69.96 and a beta of 0.98. The business’s 50-day moving average is $98.93 and its 200 day moving average is $95.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data 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 last year, the business posted $0.32 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

DSGX has been the topic of a number of research reports. CIBC raised their price objective on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. BMO Capital Markets lifted 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. Stephens upped their price objective on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Barclays lifted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research report on Thursday, September 5th. Finally, TD Securities boosted their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.