The Descartes Systems Group Inc. $DSGX Shares Sold by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. reduced its stake in The Descartes Systems Group by 3.0% during the second quarter, now holding 188,286 shares valued at $19.14 million.
• The firm reported second-quarter earnings of $0.43 per share, missing estimates by $0.06, while revenue increased by 10.0% year-over-year to $178.98 million.
• Analysts have varied ratings on the stock, with an average rating of "Moderate Buy" and a price target of $123.44 after several recent adjustments.

Addenda Capital Inc. reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,286 shares of the technology company's stock after selling 5,784 shares during the period. Addenda Capital Inc. owned approximately 0.22% of The Descartes Systems Group worth $19,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in DSGX. Price T Rowe Associates Inc. MD grew its holdings in shares of The Descartes Systems Group by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock valued at $719,370,000 after purchasing an additional 936,718 shares in the last quarter. Vanguard Group Inc. increased its stake in The Descartes Systems Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company's stock valued at $336,814,000 after buying an additional 46,369 shares during the period. Fiera Capital Corp increased its stake in The Descartes Systems Group by 8.0% in the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock valued at $276,705,000 after buying an additional 202,973 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of The Descartes Systems Group by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after purchasing an additional 181,086 shares during the period. Finally, Geneva Capital Management LLC grew its stake in The Descartes Systems Group by 0.6% in the 1st quarter. Geneva Capital Management LLC now owns 1,467,921 shares of the technology company's stock valued at $148,011,000 after acquiring an additional 8,793 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DSGX has been the topic of several research analyst reports. Barclays decreased their target price 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 report on Thursday, June 5th. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target for the company. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. 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 for the company in a report on Thursday, June 5th. Finally, Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average price target of $123.44.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $94.94 on Friday. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The stock has a 50 day simple moving average of $102.25 and a 200 day simple moving average of $103.60. The firm has a market capitalization of $8.16 billion, a PE ratio of 56.18 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced 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 return on equity of 10.41% and a net margin of 21.64%.The company had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same quarter in the prior year, the company earned $0.40 EPS. The company's revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS 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.

Want to see what other hedge funds are holding DSGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.