Tower Research Capital LLC TRC Cuts Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Tower Research Capital LLC TRC trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 56.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,026 shares of the technology company’s stock after selling 2,596 shares during the quarter. Tower Research Capital LLC TRC’s holdings in The Descartes Systems Group were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. raised its stake in shares of The Descartes Systems Group by 209.0% during the 1st quarter. Whittier Trust Co. now owns 309 shares of the technology company’s stock worth $25,000 after purchasing an additional 209 shares during the period. Captrust Financial Advisors raised its stake in shares of The Descartes Systems Group by 270.8% during the 2nd quarter. Captrust Financial Advisors now owns 445 shares of the technology company’s stock worth $28,000 after purchasing an additional 325 shares during the period. Fred Alger Management LLC bought a new stake in The Descartes Systems Group in the 3rd quarter valued at about $30,000. Gulf International Bank UK Ltd bought a new stake in The Descartes Systems Group in the 4th quarter valued at about $58,000. Finally, BNP Paribas Arbitrage SNC bought a new stake in The Descartes Systems Group in the 3rd quarter valued at about $128,000. 76.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Up 1.9 %

Shares of NASDAQ DSGX opened at $75.50 on Wednesday. The Descartes Systems Group Inc. has a 12 month low of $61.26 and a 12 month high of $82.02. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 59.92 and a beta of 1.02. The business has a 50-day moving average of $76.44 and a 200-day moving average of $77.06.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The Descartes Systems Group had a return on equity of 10.05% and a net margin of 21.44%. The company had revenue of $136.61 million during the quarter, compared to analyst estimates of $127.10 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, analysts predict that The Descartes Systems Group Inc. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. SpectralCast restated a “maintains” rating on shares of The Descartes Systems Group in a research note on Thursday, June 1st. Barclays boosted their price objective on The Descartes Systems Group from $62.00 to $65.00 in a research note on Thursday, June 1st. 22nd Century Group restated a “maintains” rating on shares of The Descartes Systems Group in a research note on Thursday, June 1st. Stephens boosted their price objective on The Descartes Systems Group from $90.00 to $93.00 in a research note on Thursday, June 1st. Finally, Raymond James upped their price target on The Descartes Systems Group from $73.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of “Hold” and an average price target of $82.86.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.