Envestnet Portfolio Solutions Inc. Has $670,000 Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Envestnet Portfolio Solutions Inc. lowered its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 25.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,646 shares of the technology company’s stock after selling 2,305 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in The Descartes Systems Group were worth $670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in The Descartes Systems Group during the 1st quarter valued at approximately $25,000. GeoWealth Management LLC increased its position in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after purchasing an additional 132 shares during the period. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $43,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $57,000. Finally, Optiver Holding B.V. acquired a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

DSGX has been the subject of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. CIBC reduced their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Royal Bank Of Canada reduced their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a research report on Thursday, June 5th. Barclays reduced their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, June 5th. Finally, Stephens reduced their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.40.

The Descartes Systems Group Trading Up 1.5%

Shares of DSGX opened at $102.08 on Friday. The Descartes Systems Group Inc. has a 12-month low of $90.61 and a 12-month high of $124.31. The business’s 50 day moving average is $106.87 and its 200 day moving average is $109.02. The company has a market capitalization of $8.76 billion, a PE ratio of 61.49 and a beta of 0.87.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $168.74 million during the quarter, compared to analysts’ expectations of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The Descartes Systems Group’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.