Oak Ridge Investments LLC Sells 10,881 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Oak Ridge Investments LLC reduced its stake in The Descartes Systems Group Inc. by 30.2%, selling 10,881 shares and retaining 25,151 shares worth $2,556,000 as of the latest SEC filing.
• Analysts have mixed opinions on the stock, with ratings ranging from strong buy to hold, and an average price target of $121.80.
• The Descartes Systems Group reported earnings per share of $0.43 for the last quarter, missing expectations, but revenue was up 10% year-over-year.

Oak Ridge Investments LLC reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 30.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,151 shares of the technology company's stock after selling 10,881 shares during the period. Oak Ridge Investments LLC's holdings in The Descartes Systems Group were worth $2,556,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DSGX. NBC Securities Inc. bought a new stake in shares of The Descartes Systems Group during the 1st quarter worth $25,000. Vista Finance LLC boosted its holdings in The Descartes Systems Group by 7.0% in the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company's stock valued at $314,000 after purchasing an additional 203 shares during the period. Louisbourg Investments Inc. boosted its holdings in The Descartes Systems Group by 260.2% in the 1st quarter. Louisbourg Investments Inc. now owns 18,335 shares of the technology company's stock valued at $1,848,000 after purchasing an additional 13,245 shares during the period. Avior Wealth Management LLC boosted its holdings in The Descartes Systems Group by 9.8% in the 1st quarter. Avior Wealth Management LLC now owns 4,320 shares of the technology company's stock valued at $436,000 after purchasing an additional 384 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in The Descartes Systems Group in the 1st quarter valued at $141,000. 77.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of The Descartes Systems Group in a report on Wednesday. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Finally, TD Cowen reissued a "buy" rating and issued a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average price target of $121.80.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $95.48 on Friday. The company has a 50-day moving average of $100.01 and a 200-day moving average of $103.17. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 56.50 and a beta of 0.77. The Descartes Systems Group Inc. has a 52 week low of $91.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The business had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The Descartes Systems Group's revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.

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