The Descartes Systems Group Inc. $DSGX Shares Sold by Plato Investment Management Ltd

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

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of The Descartes Systems Group in the 1st quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in The Descartes Systems Group during the 1st quarter valued at approximately $49,000. Versant Capital Management Inc grew its holdings in The Descartes Systems Group by 2,013.5% during the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company's stock valued at $111,000 after buying an additional 1,047 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in The Descartes Systems Group during the 1st quarter valued at approximately $141,000. Finally, Vident Advisory LLC purchased a new stake in The Descartes Systems Group during the 1st quarter valued at approximately $220,000. Institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

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

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded down $0.63 during midday trading on Tuesday, reaching $101.93. 113,138 shares of the company's stock were exchanged, compared to its average volume of 361,869. The firm's 50 day simple moving average is $102.86 and its two-hundred day simple moving average is $103.81. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 60.34 and a beta of 0.80. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results 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 firm had revenue of $178.98 million for the quarter, compared to analysts' expectations of $176.51 million. The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The business's revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. Equities research analysts predict 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.