Russell Investments Group Ltd. Has $15.18 Million Stake in The Descartes Systems Group Inc. $DSGX

Russell Investments Group Ltd. lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 33.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,721 shares of the technology company's stock after selling 74,198 shares during the period. Russell Investments Group Ltd. owned approximately 0.18% of The Descartes Systems Group worth $15,179,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DSGX. Wells Fargo & Company MN grew its position in The Descartes Systems Group by 42.9% during the 4th quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company's stock worth $748,000 after purchasing an additional 1,977 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of The Descartes Systems Group by 44.9% in the 4th quarter. Cerity Partners LLC now owns 3,497 shares of the technology company's stock valued at $392,000 after purchasing an additional 1,084 shares during the period. Raymond James Financial Inc. acquired a new position in The Descartes Systems Group during the fourth quarter worth $19,392,000. NewEdge Advisors LLC boosted its stake in shares of The Descartes Systems Group by 10.9% in the fourth quarter. NewEdge Advisors LLC now owns 3,427 shares of the technology company's stock worth $389,000 after acquiring an additional 336 shares during the last quarter. Finally, GeoWealth Management LLC raised its position in shares of The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Up 1.7%

NASDAQ DSGX traded up $1.69 during trading hours on Friday, hitting $100.74. The company had a trading volume of 107,753 shares, compared to its average volume of 344,146. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The firm has a market cap of $8.65 billion, a P/E ratio of 60.69 and a beta of 0.81. The business has a fifty day simple moving average of $102.28 and a 200-day simple moving average of $105.44.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The business had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same period in the previous year, the company posted $0.40 EPS. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays dropped their price objective 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 began 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 price objective on the stock. Wall Street Zen cut shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Royal Bank Of Canada decreased 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 research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

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.