Creative Planning Lowers Stock Holdings in The Descartes Systems Group Inc. $DSGX

Creative Planning lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,649 shares of the technology company’s stock after selling 777 shares during the period. Creative Planning’s holdings in The Descartes Systems Group were worth $1,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of The Descartes Systems Group by 5.9% in the first quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock worth $22,543,000 after acquiring an additional 12,571 shares during the last quarter. Cidel Asset Management Inc. raised its position in shares of The Descartes Systems Group by 31.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock worth $14,428,000 after purchasing an additional 34,411 shares during the last quarter. Aviva PLC boosted its stake in The Descartes Systems Group by 8.5% in the 2nd quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock worth $6,130,000 after purchasing an additional 4,709 shares in the last quarter. Andra AP fonden bought a new position in The Descartes Systems Group in the 2nd quarter worth about $823,000. Finally, AGF Management Ltd. grew its position in The Descartes Systems Group by 26.3% during the 2nd quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock valued at $14,174,000 after purchasing an additional 29,012 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley decreased their target price on shares of The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, November 20th. TD Securities initiated coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They set a “buy” rating and a $121.00 price target for the company. TD Cowen restated a “buy” rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Wednesday, November 19th. Finally, Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. 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 company’s stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $120.70.

The Descartes Systems Group Trading Up 1.7%

NASDAQ:DSGX opened at $82.28 on Wednesday. The company has a market cap of $7.08 billion, a PE ratio of 48.69 and a beta of 0.75. The company has a 50 day simple moving average of $91.55 and a two-hundred day simple moving average of $99.97. The Descartes Systems Group Inc. has a 12 month low of $78.88 and a 12 month high of $124.31.

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