Premier Fund Managers Ltd Sells 70,379 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Premier Fund Managers Ltd sold 70,379 shares of The Descartes Systems Group in Q4, trimming its stake by 17.1% to 340,503 shares (about 0.40% of the company) worth roughly $29.98 million and making it the fund's 22nd-largest holding.
• Descartes topped Q4 expectations with $0.52 EPS vs. $0.50 expected and revenue of $192.37 million (+15.1% YoY); the company has a market cap of about $6.12 billion and the stock trades near $71.17.
• Analysts have cut several price targets recently (Scotiabank, BMO, Canaccord), but the MarketBeat consensus remains a Moderate Buy with a $105.45 average target while the share price sits below its 200-day moving average.

Premier Fund Managers Ltd lessened its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,503 shares of the technology company's stock after selling 70,379 shares during the quarter. The Descartes Systems Group comprises about 1.7% of Premier Fund Managers Ltd's investment portfolio, making the stock its 22nd biggest position. Premier Fund Managers Ltd owned about 0.40% of The Descartes Systems Group worth $29,980,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in The Descartes Systems Group in the 3rd quarter worth $27,000. Mather Group LLC. acquired a new stake in The Descartes Systems Group in the 3rd quarter worth $28,000. Danske Bank A S acquired a new stake in The Descartes Systems Group in the 3rd quarter worth $34,000. Measured Wealth Private Client Group LLC acquired a new stake in The Descartes Systems Group in the 3rd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd grew its position in The Descartes Systems Group by 267.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company's stock worth $52,000 after purchasing an additional 401 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Down 2.0%

NASDAQ:DSGX opened at $71.17 on Thursday. The firm has a market cap of $6.12 billion, a PE ratio of 38.26 and a beta of 0.65. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The company's 50-day moving average price is $70.72 and its two-hundred day moving average price is $78.89.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The company had revenue of $192.37 million during the quarter, compared to the consensus estimate of $188.09 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. On average, research analysts expect that The Descartes Systems Group Inc. will post 2.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Scotiabank decreased their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 4th. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $95.00 to $82.00 and set a "market perform" rating on the stock in a research report on Thursday, March 12th. Canaccord Genuity Group decreased their target price on shares of The Descartes Systems Group from $110.00 to $92.00 and set a "buy" rating on the stock in a research report on Thursday, March 12th. Zacks Research lowered shares of The Descartes Systems Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Finally, Weiss Ratings lowered shares of The Descartes Systems Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and a consensus target price of $105.45.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc NASDAQ: DSGX is a global provider of cloud-based logistics and supply chain management solutions. The company's software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes' modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.

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