Swiss National Bank Cuts Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Swiss National Bank lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,424 shares of the technology company's stock after selling 4,800 shares during the period. Swiss National Bank owned approximately 0.28% of The Descartes Systems Group worth $24,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DSGX. GAMMA Investing LLC lifted its holdings in The Descartes Systems Group by 9,983.0% in the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company's stock valued at $5,134,000 after acquiring an additional 50,414 shares during the period. Mackenzie Financial Corp grew its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after buying an additional 2,800,492 shares during the period. Bank of New York Mellon Corp grew its position in The Descartes Systems Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock valued at $12,940,000 after buying an additional 3,316 shares during the period. Northern Trust Corp grew its position in The Descartes Systems Group by 11.8% during the fourth quarter. Northern Trust Corp now owns 80,737 shares of the technology company's stock valued at $9,172,000 after buying an additional 8,537 shares during the period. Finally, First Trust Advisors LP grew its position in The Descartes Systems Group by 24.4% during the fourth quarter. First Trust Advisors LP now owns 14,389 shares of the technology company's stock valued at $1,635,000 after buying an additional 2,820 shares during the period. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Down 1.6%

Shares of NASDAQ:DSGX traded down $1.55 during mid-day trading on Thursday, reaching $97.84. The stock had a trading volume of 393,071 shares, compared to its average volume of 468,843. The company has a market cap of $8.40 billion, a P/E ratio of 58.94 and a beta of 0.81. The Descartes Systems Group Inc. has a 1 year low of $92.00 and a 1 year high of $124.31. The business's 50 day moving average price is $102.47 and its 200 day moving average price is $106.06.

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 firm had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The Descartes Systems Group's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on DSGX. Barclays cut their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target for the company. Wall Street Zen lowered The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Royal Bank Of Canada cut their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Company 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.