Commerce Bank Sells 730 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Commerce Bank lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,077 shares of the technology company’s stock after selling 730 shares during the quarter. Commerce Bank’s holdings in The Descartes Systems Group were worth $729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DSGX. Ellsworth Advisors LLC bought a new position in The Descartes Systems Group during the second quarter valued at $527,000. Plato Investment Management Ltd purchased a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $2,308,000. Vanguard Group Inc. boosted its stake in shares of 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 worth $287,188,000 after purchasing an additional 40,897 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in The Descartes Systems Group by 6.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 97,129 shares of the technology company’s stock valued at $8,890,000 after purchasing an additional 6,070 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in The Descartes Systems Group by 8.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock worth $57,514,000 after purchasing an additional 47,481 shares during the period. 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 $117.25 on Tuesday. The Descartes Systems Group Inc. has a 12-month low of $79.21 and a 12-month high of $117.95. The stock’s fifty day simple moving average is $106.61 and its two-hundred day simple moving average is $100.73. The stock has a market capitalization of $10.02 billion, a PE ratio of 79.22 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Scotiabank increased their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

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.