Mn Services Vermogensbeheer B.V. Sells 3,300 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Mn Services Vermogensbeheer B.V. lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,200 shares of the technology company's stock after selling 3,300 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in The Descartes Systems Group were worth $3,040,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DSGX. Allworth Financial LP grew its stake in shares of The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock worth $77,000 after purchasing an additional 182 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of The Descartes Systems Group by 1,318.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,135 shares of the technology company's stock worth $129,000 after purchasing an additional 1,055 shares during the last quarter. Alberta Investment Management Corp grew its stake in shares of The Descartes Systems Group by 21.3% in the 4th quarter. Alberta Investment Management Corp now owns 103,687 shares of the technology company's stock worth $11,780,000 after purchasing an additional 18,200 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of The Descartes Systems Group by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 125,019 shares of the technology company's stock worth $14,202,000 after purchasing an additional 9,180 shares during the last quarter. Finally, Impact Investors Inc acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $488,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DSGX. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Barclays dropped their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research report on Thursday, March 6th. 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 on the stock in a research report on Thursday, June 5th. Finally, Scotiabank lifted their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $123.40.

The Descartes Systems Group Trading Up 0.3%

NASDAQ DSGX traded up $0.26 during trading on Friday, reaching $99.22. The company's stock had a trading volume of 349,593 shares, compared to its average volume of 228,441. The stock has a market capitalization of $8.49 billion, a PE ratio of 59.77 and a beta of 0.87. The business has a 50-day moving average price of $106.95 and a 200-day moving average price of $109.45. The Descartes Systems Group Inc. has a 1-year low of $90.61 and a 1-year high of $124.31.

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