Daiwa Securities Group Inc. Sells 120 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Daiwa Securities Group Inc. lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,330 shares of the technology company’s stock after selling 120 shares during the quarter. Daiwa Securities Group Inc.’s holdings in The Descartes Systems Group were worth $226,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DSGX. TD Asset Management Inc raised its holdings in shares of The Descartes Systems Group by 10.5% in the 4th quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock valued at $65,201,000 after acquiring an additional 73,410 shares in the last quarter. Bessemer Group Inc. raised its stake in The Descartes Systems Group by 7.0% in the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after purchasing an additional 11,025 shares in the last quarter. Quadrature Capital Ltd raised its stake in The Descartes Systems Group by 13.6% in the fourth quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after purchasing an additional 18,700 shares in the last quarter. Russell Investments Group Ltd. lifted its position in The Descartes Systems Group by 3.4% during the first quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock valued at $24,043,000 after purchasing an additional 8,722 shares during the last quarter. Finally, Zeno Equity Partners LLP purchased a new position in The Descartes Systems Group in the 4th quarter worth approximately $11,108,000. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DSGX. CIBC lifted their price objective on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Raymond James lifted their price target on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research note on Friday, May 31st. Scotiabank increased their price objective 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. Barclays boosted their target price on 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 increased their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average target price of $103.00.

The Descartes Systems Group Stock Down 0.5 %

NASDAQ:DSGX opened at $99.09 on Wednesday. The firm has a market capitalization of $8.46 billion, a P/E ratio of 70.78 and a beta of 0.98. The company has a fifty day moving average of $98.87 and a 200 day moving average of $95.71. The Descartes Systems Group Inc. has a 52 week low of $69.59 and a 52 week high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm 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 business’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

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.