1832 Asset Management L.P. Trims Stake in The Descartes Systems Group Inc. $DSGX

1832 Asset Management L.P. reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 24.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,850 shares of the technology company’s stock after selling 61,616 shares during the period. 1832 Asset Management L.P. owned 0.22% of The Descartes Systems Group worth $19,094,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. LPL Financial LLC raised its position in shares of The Descartes Systems Group by 7.7% in the 1st quarter. LPL Financial LLC now owns 23,021 shares of the technology company’s stock worth $2,321,000 after acquiring an additional 1,646 shares in the last quarter. Vanguard Group Inc. grew its stake in The Descartes Systems Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company’s stock worth $336,814,000 after purchasing an additional 46,369 shares during the period. Deutsche Bank AG raised its holdings in The Descartes Systems Group by 80.5% in the first quarter. Deutsche Bank AG now owns 236,029 shares of the technology company’s stock worth $23,799,000 after purchasing an additional 105,238 shares in the last quarter. National Bank of Canada FI raised its holdings in The Descartes Systems Group by 12.5% in the first quarter. National Bank of Canada FI now owns 822,168 shares of the technology company’s stock worth $82,651,000 after purchasing an additional 91,390 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. lifted its position in The Descartes Systems Group by 25.0% during the first quarter. PCJ Investment Counsel Ltd. now owns 35,710 shares of the technology company’s stock valued at $3,599,000 after buying an additional 7,140 shares during the period. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DSGX shares. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Scotiabank dropped their price objective on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday. TD Securities started coverage on shares of The Descartes Systems Group in a research note on Friday, October 3rd. They set a “buy” rating and a $121.00 target price for the company. CIBC lowered their target price on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Barclays cut their price target on The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.55.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $94.87 on Friday. The Descartes Systems Group Inc. has a 1 year low of $78.88 and a 1 year high of $124.31. The company has a market cap of $8.16 billion, a P/E ratio of 53.60 and a beta of 0.74. The stock’s fifty day moving average price is $89.29 and its 200-day moving average price is $98.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.76%. The business had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate 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.