Pembroke Management LTD Sells 38,480 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Pembroke Management LTD reduced its stake in The Descartes Systems Group by 31.3% after selling 38,480 shares, leaving it with 84,524 shares worth approximately $8.5 million at the end of the last quarter.
• Research firms have issued various ratings on DSGX, with Royal Bank of Canada lowering its price target from $130 to $126, while Morgan Stanley initiated coverage with a price target of $110.
• The Descartes Systems Group reported $0.41 EPS for the most recent quarter, missing analysts' expectations, although its quarterly revenue was up 11.5% compared to the same period last year.

Pembroke Management LTD trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 31.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,524 shares of the technology company's stock after selling 38,480 shares during the quarter. Pembroke Management LTD owned 0.10% of The Descartes Systems Group worth $8,523,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC bought a new stake in The Descartes Systems Group in the first quarter worth $16,733,000. Freedom Investment Management Inc. boosted its holdings in The Descartes Systems Group by 16.1% in the first quarter. Freedom Investment Management Inc. now owns 2,606 shares of the technology company's stock worth $263,000 after acquiring an additional 361 shares in the last quarter. Synovus Financial Corp boosted its holdings in The Descartes Systems Group by 28.0% in the first quarter. Synovus Financial Corp now owns 19,939 shares of the technology company's stock worth $2,011,000 after acquiring an additional 4,360 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in The Descartes Systems Group by 12.4% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,766 shares of the technology company's stock worth $9,038,000 after acquiring an additional 9,910 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in The Descartes Systems Group by 12.2% in the first quarter. 1832 Asset Management L.P. now owns 249,466 shares of the technology company's stock worth $25,154,000 after acquiring an additional 27,089 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on DSGX. Royal Bank Of Canada dropped their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Barclays dropped their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Morgan Stanley initiated coverage on The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Finally, Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Stock Up 0.3%

Shares of DSGX opened at $100.00 on Friday. The business has a 50-day simple moving average of $102.37 and a two-hundred day simple moving average of $104.78. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 60.24 and a beta of 0.81. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results 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 company had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The business's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Company 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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