The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Holdings Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,461 shares of the technology company’s stock after selling 966 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.28% of The Descartes Systems Group worth $24,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock worth $561,827,000 after acquiring an additional 2,800,492 shares during the period. Norges Bank bought a new stake in shares of The Descartes Systems Group in the 4th quarter worth approximately $126,918,000. Arrowstreet Capital Limited Partnership lifted its position in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after acquiring an additional 639,848 shares during the period. Praesidium Investment Management Company LLC acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $54,724,000. Finally, Franklin Resources Inc. raised its holdings in shares of The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after buying an additional 326,643 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $102.30 on Wednesday. The business’s 50-day moving average is $106.25 and its 200 day moving average is $107.64. The stock has a market capitalization of $8.78 billion, a PE ratio of 61.63 and a beta of 0.82. The Descartes Systems Group Inc. has a 1 year low of $90.61 and a 1 year high of $124.31.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada dropped their target price on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, June 5th. Scotiabank raised their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. Stephens dropped their price target on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday. They set an “equal weight” rating and a $110.00 price target for the company. Finally, Barclays dropped their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.18.

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.