The Descartes Systems Group Inc. $DSGX Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,949 shares of the technology company’s stock after selling 10,514 shares during the period. Bank of Nova Scotia owned about 0.48% of The Descartes Systems Group worth $29,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DSGX. Sei Investments Co. grew its holdings in The Descartes Systems Group by 16.1% during the 1st quarter. Sei Investments Co. now owns 151,893 shares of the technology company’s stock valued at $10,869,000 after buying an additional 21,079 shares during the last quarter. Walleye Capital LLC lifted its position in shares of The Descartes Systems Group by 1,011.9% in the first quarter. Walleye Capital LLC now owns 128,723 shares of the technology company’s stock valued at $9,211,000 after acquiring an additional 117,146 shares in the last quarter. State of Wyoming lifted its position in shares of The Descartes Systems Group by 12.3% in the first quarter. State of Wyoming now owns 4,550 shares of the technology company’s stock valued at $325,000 after acquiring an additional 500 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of The Descartes Systems Group by 14.7% during the first quarter. First Trust Advisors LP now owns 10,049 shares of the technology company’s stock valued at $719,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS acquired a new stake in shares of The Descartes Systems Group during the first quarter valued at $93,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $68.18 on Friday. The business has a 50-day moving average of $71.69 and a two-hundred day moving average of $72.38. The firm has a market capitalization of $5.84 billion, a PE ratio of 34.09 and a beta of 0.64. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

DSGX has been the subject of several analyst reports. Canadian Imperial Bank of Commerce boosted their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. Raymond James Financial lowered their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. National Bank Financial set a $95.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, July 20th. Loop Capital reissued a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.54.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.