The Descartes Systems Group Inc. $DSGX Shares Sold by Federation des caisses Desjardins du Quebec

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 trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,080 shares of the technology company's stock after selling 7,651 shares during the period. Federation des caisses Desjardins du Quebec owned 0.09% of The Descartes Systems Group worth $7,395,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in The Descartes Systems Group in the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new stake in The Descartes Systems Group in the 1st quarter worth about $49,000. Versant Capital Management Inc boosted its stake in The Descartes Systems Group by 2,013.5% in 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 stake in The Descartes Systems Group in the 1st quarter worth about $141,000. Finally, Vident Advisory LLC acquired a new stake in The Descartes Systems Group in the 1st quarter worth about $220,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

Shares of DSGX stock traded down $0.43 during mid-day trading on Tuesday, reaching $107.02. 136,906 shares of the company were exchanged, compared to its average volume of 361,724. The company has a market capitalization of $9.20 billion, a P/E ratio of 63.31 and a beta of 0.80. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The business's 50 day simple moving average is $102.57 and its 200 day simple moving average is $104.02.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The company had revenue of $178.98 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays decreased 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 note on Thursday, June 5th. Wall Street Zen upgraded The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price for the company. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada dropped their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.60.

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.