Invesco Ltd. Sells 270,579 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Invesco Ltd. reduced its stake in The Descartes Systems Group by 31.2%, owning 597,267 shares after selling 270,579 shares in the most recent quarter.
• The Descartes Systems Group reported an EPS of $0.41, missing analysts' expectations, and their revenue for the quarter was $168.74 million, slightly below estimates.
• Analysts have given The Descartes Systems Group a consensus rating of "Moderate Buy" with an average target price of $122.18.

Invesco Ltd. lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 31.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 597,267 shares of the technology company's stock after selling 270,579 shares during the quarter. Invesco Ltd. owned about 0.70% of The Descartes Systems Group worth $60,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DSGX. Mackenzie Financial Corp lifted its holdings in The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after buying an additional 2,800,492 shares in the last quarter. Praesidium Investment Management Company LLC bought a new stake in The Descartes Systems Group during the 4th quarter valued at about $54,724,000. Fiera Capital Corp lifted its holdings in 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 buying an additional 202,973 shares in the last quarter. Raymond James Financial Inc. bought a new stake in The Descartes Systems Group during the 4th quarter valued at about $19,392,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in The Descartes Systems Group by 25.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company's stock valued at $63,183,000 after buying an additional 125,146 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded up $0.99 during midday trading on Thursday, hitting $99.05. 302,375 shares of the company's stock were exchanged, compared to its average volume of 435,992. 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 50-day moving average of $102.28 and a two-hundred day moving average of $105.44. The company has a market cap of $8.51 billion, a PE ratio of 59.67 and a beta of 0.81.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DSGX shares. 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. Royal Bank Of Canada decreased their price objective on shares of 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. Morgan Stanley started coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective for the company. Finally, Barclays decreased 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 report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group has an average 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.