Amundi Trims Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Amundi has reduced its stake in The Descartes Systems Group by 14.3%, owning 47,187 shares worth approximately $4.75 million after selling 7,855 shares in the first quarter.
• A variety of institutional investors have increased or established positions in The Descartes Systems Group, with hedge funds owning 77.73% of the stock.
• The company's latest earnings report revealed an EPS of $0.43, missing forecasts, although revenue rose 10% year-over-year to $178.98 million.

Amundi lowered its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 14.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,187 shares of the technology company's stock after selling 7,855 shares during the period. Amundi owned 0.06% of The Descartes Systems Group worth $4,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of The Descartes Systems Group in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in The Descartes Systems Group in the 1st quarter valued at about $49,000. Versant Capital Management Inc grew its stake in The Descartes Systems Group by 2,013.5% in the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company's stock worth $111,000 after acquiring an additional 1,047 shares during the period. Intact Investment Management Inc. acquired a new position in The Descartes Systems Group in the first quarter valued at $141,000. Finally, Vident Advisory LLC purchased a new position in shares of The Descartes Systems Group during the 1st quarter worth about $220,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DSGX shares. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price for the company. Royal Bank Of Canada lowered their price objective on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, Barclays decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.60.

The Descartes Systems Group Stock Down 1.0%

The Descartes Systems Group stock opened at $105.88 on Thursday. The business has a 50 day moving average price of $102.76 and a two-hundred day moving average price of $104.05. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 62.65 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 - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $178.98 million during the quarter, compared to analyst estimates of $176.51 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company's quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.

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