Conestoga Capital Advisors LLC Has $280.25 Million Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Conestoga Capital Advisors LLC cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,779,452 shares of the technology company's stock after selling 371,040 shares during the period. The Descartes Systems Group comprises approximately 4.2% of Conestoga Capital Advisors LLC's portfolio, making the stock its 2nd biggest holding. Conestoga Capital Advisors LLC owned about 3.25% of The Descartes Systems Group worth $280,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in The Descartes Systems Group during the fourth quarter worth about $43,000. Geode Capital Management LLC grew its position in shares of The Descartes Systems Group by 23.0% during the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after acquiring an additional 110,329 shares during the period. GAMMA Investing LLC increased its stake in shares of The Descartes Systems Group by 9,983.0% during the 1st quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock worth $5,134,000 after purchasing an additional 50,414 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of The Descartes Systems Group by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company's stock worth $904,000 after purchasing an additional 438 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after purchasing an additional 2,800,492 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank Of Canada reduced their price objective on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Barclays dropped their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. CIBC cut their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Stephens decreased their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Scotiabank boosted their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.40.

The Descartes Systems Group Stock Up 0.3%

Shares of NASDAQ:DSGX traded up $0.25 during midday trading on Friday, reaching $99.22. 315,191 shares of the company traded hands, compared to its average volume of 227,906. The firm's fifty day moving average price is $107.00 and its two-hundred day moving average price is $109.64. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 59.77 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 posted its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The company had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same period in the previous year, the firm earned $0.40 EPS. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. Analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Profile

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.