CW Advisors LLC Sells 25,727 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• CW Advisors LLC sold 25,727 shares of The Descartes Systems Group, reducing its stake by 17.1%, now holding 124,479 shares valued at approximately $12.55 million.
• Analysts have set a new average price target of $122.18 for The Descartes Systems Group, with ratings varying from "Strong Buy" to "Sell".
• The Descartes Systems Group reported an EPS of $0.41 for the last quarter, missing the consensus estimate of $0.46 by $0.05, while revenue saw an 11.5% year-over-year increase.

CW Advisors LLC decreased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 17.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 124,479 shares of the technology company's stock after selling 25,727 shares during the period. CW Advisors LLC owned 0.15% of The Descartes Systems Group worth $12,551,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DSGX. NBC Securities Inc. purchased a new stake in The Descartes Systems Group during the 1st quarter worth about $25,000. GeoWealth Management LLC boosted its position in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after acquiring an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of The Descartes Systems Group during the 1st quarter valued at about $49,000. Optiver Holding B.V. bought a new stake in shares of The Descartes Systems Group during the 4th quarter valued at about $66,000. Finally, Johnson Financial Group Inc. boosted its position in shares of The Descartes Systems Group by 830.9% during the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after acquiring an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

DSGX has been the subject of a number of research analyst reports. Barclays dropped their price target 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. Royal Bank Of Canada decreased their price objective on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock traded up $1.67 during trading hours on Wednesday, reaching $99.59. The company had a trading volume of 212,724 shares, compared to its average volume of 348,496. The company has a 50-day moving average price of $102.34 and a 200 day moving average price of $104.97. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 59.99 and a beta of 0.81. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31.

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