The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 730,524 shares of the technology company's stock after selling 70,399 shares during the period. Riverbridge Partners LLC owned approximately 0.85% of The Descartes Systems Group worth $73,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DSGX. NBC Securities Inc. purchased a new stake in shares of The Descartes Systems Group during the 1st quarter valued at $25,000. GeoWealth Management LLC raised its stake in The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after acquiring an additional 132 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in The Descartes Systems Group in the 4th quarter worth $43,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in The Descartes Systems Group in the 4th quarter worth $57,000. Finally, Optiver Holding B.V. purchased a new position in The Descartes Systems Group in the 4th quarter worth $66,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 1.6%

DSGX traded up $1.55 during midday trading on Monday, hitting $100.77. 295,704 shares of the company were exchanged, compared to its average volume of 228,710. The company's 50 day simple moving average is $106.93 and its 200 day simple moving average is $109.24. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 60.71 and a beta of 0.87. The Descartes Systems Group Inc. has a 1-year low of $90.61 and a 1-year high of $124.31.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Scotiabank raised their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. BMO Capital Markets reduced their target price on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. CIBC reduced their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Royal Bank Of Canada reduced their target price on 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, Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and a consensus price target of $123.40.

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.