The Descartes Systems Group Inc. $DSGX Shares Sold by Amundi

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 decreased its position 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,187 shares of the technology company's stock after selling 7,855 shares during the period. Amundi owned approximately 0.06% of The Descartes Systems Group worth $4,750,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada dropped their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. Wall Street Zen upgraded The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Barclays reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 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. Finally, Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of "Moderate Buy" and a consensus target price of $123.60.

The Descartes Systems Group Stock Performance

NASDAQ DSGX traded down $0.70 during mid-day trading on Tuesday, reaching $101.86. 347,276 shares of the stock were exchanged, compared to its average volume of 474,599. The company has a market capitalization of $8.75 billion, a P/E ratio of 60.27 and a beta of 0.80. The Descartes Systems Group Inc. has a 1 year low of $92.00 and a 1 year high of $124.31. The business's 50 day moving average is $102.85 and its 200-day moving average is $103.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, September 3rd. The technology company reported $0.43 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 for the quarter, compared to analysts' expectations of $176.51 million. During the same period in the prior year, the firm earned $0.40 EPS. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts predict 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.