Skandinaviska Enskilda Banken AB publ Sells 9,000 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Skandinaviska Enskilda Banken AB publ decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 38.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,531 shares of the technology company's stock after selling 9,000 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in The Descartes Systems Group were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Commonwealth Equity Services LLC bought a new position in shares of The Descartes Systems Group during the fourth quarter worth $207,000. LPL Financial LLC grew its stake in The Descartes Systems Group by 34.1% in the 4th quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock valued at $2,428,000 after buying an additional 5,435 shares during the last quarter. Vanguard Group Inc. grew its stake in The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after buying an additional 54,341 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in The Descartes Systems Group in the 4th quarter valued at about $57,000. Finally, Korea Investment CORP boosted its holdings in The Descartes Systems Group by 115.8% in the 4th quarter. Korea Investment CORP now owns 42,301 shares of the technology company's stock valued at $4,806,000 after purchasing an additional 22,700 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on DSGX. 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. Barclays dropped 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. Stephens dropped their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Morgan Stanley started 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 target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

Shares of DSGX traded down $1.30 during trading hours on Friday, hitting $104.46. The company had a trading volume of 381,592 shares, compared to its average volume of 410,626. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 62.93 and a beta of 0.81. The Descartes Systems Group Inc. has a 52-week low of $90.61 and a 52-week high of $124.31. The firm has a fifty day moving average price of $104.54 and a 200-day moving average price of $107.02.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly 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 company had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The business's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.