Riverbridge Partners LLC Sells 92,462 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Riverbridge Partners LLC has reduced its stake in The Descartes Systems Group by 12.7%, selling 92,462 shares during the second quarter, leaving them with approximately 0.74% ownership valued at $64.9 million.
• The Descartes Systems Group reported earnings of $0.43 per share, missing expectations by $0.06, with quarter revenue reaching $178.98 million, a 10% year-over-year increase.
• Analysts have varied opinions on the stock, with Barclays lowering its price target to $108, while the average target price remains at $123.60, reflecting a "Moderate Buy" rating.

Riverbridge Partners LLC lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 12.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 638,062 shares of the technology company's stock after selling 92,462 shares during the quarter. Riverbridge Partners LLC owned approximately 0.74% of The Descartes Systems Group worth $64,856,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DSGX. Cetera Investment Advisers boosted its stake in shares of The Descartes Systems Group by 14.9% in the 4th quarter. Cetera Investment Advisers now owns 4,454 shares of the technology company's stock valued at $506,000 after purchasing an additional 576 shares during the last quarter. Squarepoint Ops LLC bought a new position in The Descartes Systems Group during the 4th quarter worth approximately $712,000. Public Employees Retirement System of Ohio boosted its stake in The Descartes Systems Group by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company's stock worth $1,758,000 after acquiring an additional 345 shares during the last quarter. Wellington Management Group LLP boosted its stake in The Descartes Systems Group by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company's stock worth $904,000 after acquiring an additional 438 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake 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 worth $111,000 after acquiring an additional 1,047 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Down 2.6%

NASDAQ DSGX opened at $98.06 on Thursday. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The company has a market capitalization of $8.43 billion, a PE ratio of 58.02 and a beta of 0.80. The firm's 50 day moving average is $102.63 and its 200-day moving average is $103.59.

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

Analysts Set New Price Targets

Several research firms recently weighed in on DSGX. Barclays reduced their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Zacks Research upgraded shares of 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 shares of The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price on the stock. Finally, Royal Bank Of Canada dropped their target price on shares of 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. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and an average target price of $123.60.

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.

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