Federation des caisses Desjardins du Quebec Sells 7,651 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• The Federation des caisses Desjardins du Quebec has decreased its stake in The Descartes Systems Group by 9.4%, now holding 74,080 shares after selling 7,651 shares.
• Descartes Systems reported $0.43 earnings per share for the last quarter, falling short of analysts' estimates of $0.49, despite a 10.0% revenue increase year-over-year to $178.98 million.
• Equities analysts have recently adjusted their price targets on Descartes Systems, with Royal Bank of Canada lowering their target from $130.00 to $126.00, while Barclays reduced theirs from $118.00 to $108.00.

Federation des caisses Desjardins du Quebec lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,080 shares of the technology company's stock after selling 7,651 shares during the quarter. Federation des caisses Desjardins du Quebec owned about 0.09% of The Descartes Systems Group worth $7,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DSGX. Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after purchasing an additional 2,800,492 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of The Descartes Systems Group by 15.1% in 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 buying an additional 936,718 shares in the last quarter. Praesidium Investment Management Company LLC purchased a new stake in The Descartes Systems Group during the fourth quarter worth $54,724,000. Nuveen LLC purchased a new position in The Descartes Systems Group in the 1st quarter worth $21,074,000. Finally, Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 8.0% during the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock valued at $276,705,000 after acquiring an additional 202,973 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DSGX has been the topic of several recent research reports. Zacks Research upgraded shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday. Morgan Stanley initiated 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 objective for the company. Royal Bank Of Canada dropped 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. Finally, Barclays reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and a consensus target price of $123.60.

The Descartes Systems Group Stock Down 0.3%

Shares of DSGX traded down $0.35 during mid-day trading on Monday, reaching $107.44. 399,321 shares of the stock traded hands, compared to its average volume of 362,801. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 63.57 and a beta of 0.80. The stock has a fifty day simple moving average of $102.46 and a 200 day simple moving average of $104.05.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly 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 the consensus estimate of $176.51 million. During the same period in the previous year, the firm posted $0.40 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.