Envestnet Asset Management Inc. Sells 13,191 Shares of The Descartes Systems Group Inc. $DSGX

Envestnet Asset Management Inc. reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 228,270 shares of the technology company’s stock after selling 13,191 shares during the quarter. Envestnet Asset Management Inc. owned 0.27% of The Descartes Systems Group worth $23,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in The Descartes Systems Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company’s stock valued at $12,940,000 after purchasing an additional 3,316 shares during the last quarter. M&T Bank Corp purchased a new stake in The Descartes Systems Group during the first quarter valued at about $1,321,000. Genus Capital Management Inc. lifted its holdings in The Descartes Systems Group by 208.8% during the first quarter. Genus Capital Management Inc. now owns 59,209 shares of the technology company’s stock valued at $5,960,000 after purchasing an additional 113,653 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in The Descartes Systems Group by 25.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company’s stock valued at $63,183,000 after purchasing an additional 125,146 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in The Descartes Systems Group by 12.4% during the first quarter. Whittier Trust Co. now owns 15,746 shares of the technology company’s stock valued at $1,588,000 after purchasing an additional 1,740 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 3.8%

Shares of NASDAQ DSGX opened at $84.84 on Wednesday. The Descartes Systems Group Inc. has a 52 week low of $84.23 and a 52 week high of $124.31. The firm’s fifty day moving average is $97.83 and its 200 day moving average is $102.43. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 50.20 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm had revenue of $178.98 million during the quarter, compared to analysts’ expectations of $176.51 million. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

DSGX has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. CIBC decreased their price target on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. Finally, TD Securities assumed coverage on shares of The Descartes Systems Group in a report on Friday, October 3rd. They issued a “buy” rating and a $121.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.70.

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.