Herald Investment Management Ltd Has $18.63 Million Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• Herald Investment Management Ltd has reduced its stake in The Descartes Systems Group by 2.6%, selling 5,000 shares to own a total of 185,000 shares, which now represents 3.5% of its investment portfolio.
• The Descartes Systems Group reported $0.41 earnings per share for the last quarter, missing analyst expectations of $0.46, while revenue also fell short at $168.74 million compared to expected $169.60 million.
• The stock has a market capitalization of $8.80 billion and has seen fluctuations with a 12-month low of $92.00 and a high of $124.31, currently trading down 1.3% at $102.46.

Herald Investment Management Ltd reduced its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,000 shares of the technology company's stock after selling 5,000 shares during the quarter. The Descartes Systems Group accounts for about 3.5% of Herald Investment Management Ltd's investment portfolio, making the stock its 6th largest holding. Herald Investment Management Ltd owned about 0.22% of The Descartes Systems Group worth $18,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC bought a new position in The Descartes Systems Group during the fourth quarter worth $207,000. LPL Financial LLC increased its stake in The Descartes Systems Group by 34.1% during the 4th quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock worth $2,428,000 after purchasing an additional 5,435 shares in the last quarter. JPMorgan Chase & Co. lifted its position in The Descartes Systems Group by 100.2% during the 4th quarter. JPMorgan Chase & Co. now owns 126,334 shares of the technology company's stock worth $14,352,000 after buying an additional 63,236 shares in the last quarter. Wellington Management Group LLP lifted its stake in The Descartes Systems Group by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company's stock valued at $904,000 after acquiring an additional 438 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of The Descartes Systems Group by 23.0% during the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock worth $67,934,000 after buying an additional 110,329 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded down $0.16 on Tuesday, hitting $99.13. 143,737 shares of the stock were exchanged, compared to its average volume of 333,001. The company's 50-day moving average price is $103.18 and its two-hundred day moving average price is $106.29. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 59.75 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data 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 firm had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research analyst reports. Barclays lowered their price objective on shares of 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. Morgan Stanley assumed 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 for the company. Royal Bank Of Canada reduced their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Finally, Wall Street Zen lowered shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group 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.