Canoe Financial LP Cuts Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Canoe Financial LP lessened its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,998 shares of the technology company's stock after selling 3,890 shares during the period. Canoe Financial LP owned approximately 0.08% of The Descartes Systems Group worth $6,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in DSGX. NBC Securities Inc. acquired a new position in shares of The Descartes Systems Group in the first quarter valued at approximately $25,000. GeoWealth Management LLC grew its holdings in shares of The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $43,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group in the 4th quarter worth about $57,000. Finally, Optiver Holding B.V. bought a new position in The Descartes Systems Group in the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Scotiabank increased their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Royal Bank Of Canada reduced their price objective on shares of 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. CIBC cut their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets dropped their price target on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Finally, Barclays decreased their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average price target of $123.40.

The Descartes Systems Group Stock Up 2.6%

Shares of DSGX stock traded up $2.66 on Tuesday, reaching $103.43. The company's stock had a trading volume of 399,028 shares, compared to its average volume of 229,389. The stock's 50 day simple moving average is $106.93 and its 200-day simple moving average is $109.24. The company has a market capitalization of $8.85 billion, a P/E ratio of 62.31 and a beta of 0.87. The Descartes Systems Group Inc. has a 12-month low of $90.61 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. During the same quarter last year, the firm posted $0.40 earnings per share. The firm's revenue was up 11.5% on a year-over-year basis. Research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS 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.