The Descartes Systems Group Inc. $DSGX Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,163 shares of the technology company’s stock after selling 291 shares during the quarter. Cetera Investment Advisers’ holdings in The Descartes Systems Group were worth $420,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Royce & Associates LP boosted its stake in The Descartes Systems Group by 4.6% during the 1st quarter. Royce & Associates LP now owns 45,965 shares of the technology company’s stock valued at $4,635,000 after purchasing an additional 2,008 shares during the period. Homestead Advisers Corp boosted its stake in The Descartes Systems Group by 4.6% during the 1st quarter. Homestead Advisers Corp now owns 73,170 shares of the technology company’s stock valued at $7,378,000 after purchasing an additional 3,200 shares during the period. Crestwood Advisors Group LLC acquired a new position in The Descartes Systems Group during the 1st quarter valued at about $1,459,000. Wealth Alliance LLC boosted its stake in The Descartes Systems Group by 5.4% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company’s stock valued at $232,000 after purchasing an additional 118 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its stake in The Descartes Systems Group by 0.4% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company’s stock valued at $4,282,000 after purchasing an additional 155 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $98.22 on Monday. The company’s 50 day moving average price is $102.39 and its 200 day moving average price is $105.78. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31. The company has a market capitalization of $8.44 billion, a PE ratio of 59.17 and a beta of 0.81.

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

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a research note on Thursday, June 5th. Wall Street Zen downgraded shares of The Descartes Systems Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Morgan Stanley began coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an “equal weight” rating and a $110.00 price target on the stock. Finally, Barclays lowered 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 note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.18.

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.