Congress Asset Management Co. Sells 161,204 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Congress Asset Management Co. has reduced its stake in The Descartes Systems Group by 15.5%, selling 161,204 shares and currently holding approximately 880,804 shares worth $89.53 million.
• The company reported a Q2 EPS of $0.43, missing the consensus estimate by $0.06, but achieved a revenue of $178.98 million, which was above analyst expectations.
• Several institutional investors increased their holdings in The Descartes Systems Group recently, with Price T Rowe Associates boosting its stake by 15.1% to own over 7 million shares.

Congress Asset Management Co. lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 880,804 shares of the technology company's stock after selling 161,204 shares during the period. Congress Asset Management Co. owned about 1.03% of The Descartes Systems Group worth $89,529,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of DSGX. Price T Rowe Associates Inc. MD raised its holdings in The Descartes Systems Group by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after acquiring an additional 936,718 shares in the last quarter. Granahan Investment Management LLC raised its holdings in The Descartes Systems Group by 715.5% during the first quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company's stock worth $38,213,000 after acquiring an additional 332,508 shares in the last quarter. Nuveen LLC bought a new stake in The Descartes Systems Group during the first quarter worth about $21,074,000. Fiera Capital Corp raised its holdings in The Descartes Systems Group by 8.0% during the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after acquiring an additional 202,973 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in The Descartes Systems Group by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after acquiring an additional 181,086 shares in the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Down 1.8%

The Descartes Systems Group stock opened at $96.29 on Friday. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The stock's 50 day moving average is $102.45 and its 200-day moving average is $103.59. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 56.98 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted 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 Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The firm had revenue of $178.98 million during the quarter, compared to analyst estimates of $176.51 million. During the same period in the previous year, the company posted $0.40 EPS. The Descartes Systems Group's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DSGX shares. Morgan Stanley started coverage on The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Barclays lowered 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. Royal Bank Of Canada lowered their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and an average target price of $123.44.

The Descartes Systems Group Company 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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