The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by NBW Capital LLC

Key Points

• NBW Capital LLC reduced its stake in The Descartes Systems Group by 23.1%, selling 16,390 shares during the 1st quarter.
• The company reported a quarterly EPS of $0.41, missing analysts' expectations of $0.46, while revenue came in at $168.74 million, just short of the expected $169.60 million.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $122.18, despite recent price objectives being lowered by multiple firms.

NBW Capital LLC cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 23.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 54,498 shares of the technology company's stock after selling 16,390 shares during the period. NBW Capital LLC owned approximately 0.06% of The Descartes Systems Group worth $5,495,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. NBC Securities Inc. purchased a new stake in The Descartes Systems Group during the first quarter valued at approximately $25,000. GeoWealth Management LLC raised its position in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after purchasing an additional 132 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of The Descartes Systems Group during the 1st quarter valued at $49,000. Optiver Holding B.V. purchased a new stake in The Descartes Systems Group in the 4th quarter worth $66,000. Finally, Johnson Financial Group Inc. grew its stake in shares of The Descartes Systems Group by 830.9% in the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock worth $101,000 after buying an additional 781 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada dropped their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Trading Down 0.2%

Shares of DSGX stock traded down $0.18 during trading hours on Tuesday, hitting $99.11. The company's stock had a trading volume of 143,737 shares, compared to its average volume of 333,001. The company has a 50 day moving average of $103.18 and a 200 day moving average of $106.29. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The stock has a market cap of $8.51 billion, a PE ratio of 59.75 and a beta of 0.81.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data 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 company had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, analysts anticipate 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.