Plato Investment Management Ltd Sells 5,051 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Plato Investment Management Ltd reduced its stake in The Descartes Systems Group by 22.5%, selling 5,051 shares during the first quarter, leaving it with 17,377 shares valued at approximately $1.77 million.
• Other institutional investors have shown increased interest, with GAMMA Investing LLC expanding its holdings by an astonishing 9,983% in the same period.
• The Descartes Systems Group reported a missed earnings estimate of $0.43 per share for the last quarter, falling short of the forecasted $0.49, while achieving a revenue of $178.98 million.

Plato Investment Management Ltd lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 22.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,377 shares of the technology company's stock after selling 5,051 shares during the quarter. Plato Investment Management Ltd's holdings in The Descartes Systems Group were worth $1,768,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 9,983.0% during the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock valued at $5,134,000 after buying an additional 50,414 shares during the last quarter. American Century Companies Inc. lifted its position in The Descartes Systems Group by 5.9% in the 1st quarter. American Century Companies Inc. now owns 223,925 shares of the technology company's stock valued at $22,543,000 after acquiring an additional 12,571 shares in the last quarter. Mackenzie Financial Corp boosted its stake 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 purchasing an additional 2,800,492 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in The Descartes Systems Group by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock worth $12,940,000 after purchasing an additional 3,316 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of The Descartes Systems Group by 11.8% in the fourth quarter. Northern Trust Corp now owns 80,737 shares of the technology company's stock worth $9,172,000 after purchasing an additional 8,537 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $105.88 on Thursday. The business's fifty day moving average is $102.76 and its 200-day moving average is $104.05. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 62.65 and a beta of 0.80. The Descartes Systems Group Inc. has a one year low of $92.00 and a one year high of $124.31.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on DSGX. Zacks Research upgraded The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Morgan Stanley started coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective on the stock. Barclays reduced their target price 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 note on Thursday, June 5th. 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 on the stock in a research report on Thursday, June 5th. Finally, Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $123.60.

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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