Durable Capital Partners LP Has $284.22 Million Stock Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Durable Capital Partners LP has reduced its stake in The Descartes Systems Group by 3.3%, selling 96,807 shares and retaining approximately 2,818,757 shares valued at $284.2 million.
• Institutional investors now hold 77.73% of The Descartes Systems Group's stock, highlighting significant interest from large financial entities.
• The Descartes Systems Group reported earnings of $0.41 per share for the last quarter, missing analysts' expectations and showing a year-over-year revenue increase of 11.5%.

Durable Capital Partners LP reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,818,757 shares of the technology company's stock after selling 96,807 shares during the quarter. The Descartes Systems Group makes up approximately 2.5% of Durable Capital Partners LP's holdings, making the stock its 18th largest holding. Durable Capital Partners LP owned about 3.29% of The Descartes Systems Group worth $284,215,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in The Descartes Systems Group in the 1st quarter worth $49,000. Versant Capital Management Inc boosted its stake in shares of The Descartes Systems Group by 2,013.5% during the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company's stock worth $111,000 after buying an additional 1,047 shares during the last quarter. Intact Investment Management Inc. acquired a new position in shares of The Descartes Systems Group during the 1st quarter worth about $141,000. Finally, Vident Advisory LLC bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at about $220,000. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded up $6.71 during trading hours on Thursday, hitting $106.22. 1,120,030 shares of the stock were exchanged, compared to its average volume of 360,710. The company has a market cap of $9.13 billion, a PE ratio of 63.99 and a beta of 0.80. The company's fifty day simple moving average is $102.25 and its two-hundred day simple moving average is $104.31. The Descartes Systems Group Inc. has a 1-year low of $92.00 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The business's revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 EPS. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

DSGX has been the topic of several research analyst reports. Barclays lowered their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Royal Bank Of Canada lowered their price target on shares of 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 shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.18.

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.