Cetera Investment Advisers Sells 291 Shares of The Descartes Systems Group Inc. $DSGX

Cetera Investment Advisers trimmed its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,163 shares of the technology company’s stock after selling 291 shares during the period. Cetera Investment Advisers’ holdings in The Descartes Systems Group were worth $420,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DSGX. Wells Fargo & Company MN raised its position in shares of The Descartes Systems Group by 42.9% during the 4th quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company’s stock valued at $748,000 after buying an additional 1,977 shares in the last quarter. Cerity Partners LLC raised its position in The Descartes Systems Group by 44.9% in the 4th quarter. Cerity Partners LLC now owns 3,497 shares of the technology company’s stock worth $392,000 after purchasing an additional 1,084 shares during the period. Raymond James Financial Inc. purchased a new position in The Descartes Systems Group in the 4th quarter worth $19,392,000. NewEdge Advisors LLC raised its position in The Descartes Systems Group by 10.9% in the 4th quarter. NewEdge Advisors LLC now owns 3,427 shares of the technology company’s stock worth $389,000 after purchasing an additional 336 shares during the period. Finally, GeoWealth Management LLC raised its position in The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after purchasing an additional 132 shares during the period. 77.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank Of Canada decreased their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, June 5th. Barclays decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 5th. Morgan Stanley began coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They issued an “equal weight” rating and a $110.00 price objective on the stock. Finally, Wall Street Zen cut shares of The Descartes Systems Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.18.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $98.22 on Monday. The Descartes Systems Group Inc. has a one year low of $92.00 and a one year high of $124.31. The company’s 50-day simple moving average is $102.39 and its 200 day simple moving average is $105.78. The firm has a market capitalization of $8.44 billion, a P/E ratio of 59.17 and a beta of 0.81.

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

About The Descartes Systems Group

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.