The Descartes Systems Group Inc. $DSGX Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,532 shares of the technology company’s stock after selling 728 shares during the period. Fifth Third Bancorp’s holdings in The Descartes Systems Group were worth $562,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of The Descartes Systems Group by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock worth $63,000 after buying an additional 117 shares during the last quarter. Wealth Alliance LLC lifted its position in shares of The Descartes Systems Group by 5.4% in the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company’s stock worth $232,000 after buying an additional 118 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of The Descartes Systems Group by 35.1% in the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock worth $59,000 after buying an additional 152 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its position in shares of The Descartes Systems Group by 4.7% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 3,464 shares of the technology company’s stock worth $349,000 after buying an additional 154 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its position in shares of The Descartes Systems Group by 0.4% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company’s stock worth $4,282,000 after buying an additional 155 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DSGX shares. Morgan Stanley started 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 target on the stock. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Barclays cut 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. Royal Bank Of Canada cut their price objective 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. Finally, Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.44.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $95.32 on Tuesday. The firm’s 50 day moving average is $102.07 and its 200-day moving average is $103.62. The stock has a market capitalization of $8.19 billion, a P/E ratio of 56.40 and a beta of 0.80. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $178.98 million during the quarter, compared to analyst estimates of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS 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.