Raymond James & Associates Sells 4,314 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Raymond James & Associates cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 103,947 shares of the technology company’s stock after selling 4,314 shares during the period. Raymond James & Associates’ holdings in The Descartes Systems Group were worth $10,066,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new position in The Descartes Systems Group in the 4th quarter valued at approximately $27,000. Central Pacific Bank Trust Division bought a new position in The Descartes Systems Group during the 1st quarter worth approximately $28,000. Accent Capital Management LLC acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $32,000. Whittier Trust Co. of Nevada Inc. boosted its stake 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 valued at $45,000 after purchasing an additional 429 shares during the last quarter. Finally, Park Place Capital Corp increased its position in shares of The Descartes Systems Group by 48.5% during the first 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. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DSGX. Barclays boosted their target price on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a report on Friday, May 17th. Scotiabank upped their target price 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. Redburn Atlantic began coverage on The Descartes Systems Group in a research note on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price target on the stock. TD Securities raised their price objective on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada boosted their target price on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

The Descartes Systems Group Trading Up 0.0 %

DSGX opened at $99.50 on Monday. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 71.07 and a beta of 0.98. The company’s fifty day moving average price is $98.24 and its two-hundred day moving average price is $94.32. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results 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 business 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 Descartes Systems Group’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.7 earnings per share 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.