Conestoga Capital Advisors LLC Sells 91,503 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Conestoga Capital Advisors LLC reduced its stake in The Descartes Systems Group by 3.3%, selling 91,503 shares, and now holds approximately 3.13% of the company, valued at $273.2 million.
• Analyst ratings show a consensus of Moderate Buy for the stock, with a price target of about $121.80.
• In its recent earnings report, The Descartes Systems Group posted $0.43 EPS, missing estimates, but has a revenue growth of 10% year-over-year.

Conestoga Capital Advisors LLC lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,687,949 shares of the technology company's stock after selling 91,503 shares during the period. The Descartes Systems Group accounts for about 4.0% of Conestoga Capital Advisors LLC's portfolio, making the stock its 3rd largest position. Conestoga Capital Advisors LLC owned approximately 3.13% of The Descartes Systems Group worth $273,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of DSGX. Avior Wealth Management LLC lifted its position in shares of The Descartes Systems Group by 9.8% during the 1st quarter. Avior Wealth Management LLC now owns 4,320 shares of the technology company's stock valued at $436,000 after acquiring an additional 384 shares during the period. Intact Investment Management Inc. acquired a new position in shares of The Descartes Systems Group during the 1st quarter valued at $141,000. Yorktown Management & Research Co Inc lifted its position in shares of The Descartes Systems Group by 31.7% during the 1st quarter. Yorktown Management & Research Co Inc now owns 10,800 shares of the technology company's stock valued at $1,089,000 after acquiring an additional 2,600 shares during the period. Bessemer Group Inc. lifted its position in shares of The Descartes Systems Group by 9.8% during the 1st quarter. Bessemer Group Inc. now owns 235,879 shares of the technology company's stock valued at $23,782,000 after acquiring an additional 21,143 shares during the period. Finally, Impact Investors Inc raised its holdings in The Descartes Systems Group by 22.9% during the first quarter. Impact Investors Inc now owns 5,280 shares of the technology company's stock worth $532,000 after buying an additional 984 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on DSGX. TD Cowen restated a "buy" rating and set a $121.00 price objective on shares of The Descartes Systems Group in a report on Friday, October 3rd. Zacks Research upgraded shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of The Descartes Systems Group in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Finally, TD Securities began coverage on shares of The Descartes Systems Group in a report on Friday, October 3rd. They set a "buy" rating and a $121.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.80.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $96.28 on Monday. The firm has a 50-day moving average of $99.25 and a 200-day moving average of $103.01. The company has a market cap of $8.27 billion, a P/E ratio of 56.97 and a beta of 0.77. The Descartes Systems Group Inc. has a one year low of $91.00 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $178.98 million during the quarter, compared to analysts' expectations of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.

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