Hsbc Holdings PLC Sells 47,875 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Hsbc Holdings PLC trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 88.9% during the 2nd quarter, Holdings Channel reports. The firm owned 5,948 shares of the technology company’s stock after selling 47,875 shares during the quarter. Hsbc Holdings PLC’s holdings in The Descartes Systems Group were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Central Pacific Bank Trust Division bought a new position in shares of The Descartes Systems Group in the 1st quarter worth $28,000. Brown Brothers Harriman & Co. bought a new position in The Descartes Systems Group in the fourth quarter valued at $27,000. 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, Intact Investment Management Inc. purchased a new position in shares of The Descartes Systems Group in the 2nd quarter worth about $61,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on DSGX shares. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. BMO Capital Markets increased their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Finally, Barclays raised their price objective on The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus target price of $104.83.

The Descartes Systems Group Trading Up 0.8 %

Shares of NASDAQ:DSGX opened at $102.96 on Tuesday. The company has a 50-day moving average price of $99.17 and a 200-day moving average price of $96.38. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 73.54 and a beta of 0.98. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $105.12.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.67 EPS for the current fiscal year.

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.