Conestoga Capital Advisors LLC Sells 618,334 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Conestoga Capital Advisors cut its Descartes Systems Group stake by 33.2%, selling 618,334 shares; it retained 1.25 million shares, valued at about $100.8 million.
• Descartes reported quarterly revenue of $198.1 million, up 11.8% year over year, and EPS of $0.57, matching analyst estimates.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $100.33; 77.73% of the stock was held by institutional investors.

Conestoga Capital Advisors LLC trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 33.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,517 shares of the technology company's stock after selling 618,334 shares during the period. The Descartes Systems Group comprises 3.1% of Conestoga Capital Advisors LLC's holdings, making the stock its 11th biggest holding. Conestoga Capital Advisors LLC owned about 1.46% of The Descartes Systems Group worth $100,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of The Descartes Systems Group by 29.2% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,291 shares of the technology company's stock valued at $1,236,000 after acquiring an additional 3,452 shares in the last quarter. Cidel Asset Management Inc. grew its stake in The Descartes Systems Group by 17.7% in the third quarter. Cidel Asset Management Inc. now owns 138,556 shares of the technology company's stock worth $11,235,000 after purchasing an additional 20,799 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in The Descartes Systems Group in the third quarter worth approximately $394,000. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd grew its stake in The Descartes Systems Group by 34.8% in the third quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 45,998 shares of the technology company's stock worth $3,719,000 after purchasing an additional 11,884 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. purchased a new position in The Descartes Systems Group during the 3rd quarter worth $226,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $94.74 on Thursday. The company's 50-day simple moving average is $83.17 and its 200-day simple moving average is $74.93. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $95.41. The stock has a market capitalization of $8.10 billion, a P/E ratio of 42.60 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The firm had revenue of $198.12 million during the quarter, compared to analyst estimates of $197.54 million. During the same quarter in the previous year, the business posted $0.43 EPS. The Descartes Systems Group's revenue was up 11.8% on a year-over-year basis. On average, research analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DSGX. BMO Capital Markets lifted their target price on The Descartes Systems Group from $82.00 to $90.00 and gave the company a "market perform" rating in a research report on Tuesday, October 13th. Scotia increased their price target on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research report on Friday, September 11th. Loop Capital restated a "buy" rating and set a $96.00 price target on shares of The Descartes Systems Group in a research note on Thursday, October 8th. National Bank Financial lifted their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, September 14th. Finally, Scotiabank upped their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research note on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and an average target price of $100.33.

About The Descartes Systems Group

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes' products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.

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