Baird Financial Group Inc. Has $33.78 Million Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• Baird Financial Group Inc. reduced its stake in The Descartes Systems Group (NASDAQ:DSGX) by 22.2%, selling 95,395 shares and now holds 0.39% of the company valued at approximately $33.8 million.
• Several institutional investors have altered their holdings in the company, with 77.73% of the stock now owned by institutional investors and hedge funds.
• The Descartes Systems Group missed quarterly earnings estimates, reporting an EPS of $0.41 which was $0.05 below analysts' expectations, despite a 11.5% year-over-year revenue increase.

Baird Financial Group Inc. decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 22.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,974 shares of the technology company's stock after selling 95,395 shares during the period. Baird Financial Group Inc. owned 0.39% of The Descartes Systems Group worth $33,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DSGX. First Trust Advisors LP raised its holdings 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 worth $1,635,000 after purchasing an additional 2,820 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in The Descartes Systems Group by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 111,643 shares of the technology company's stock worth $12,683,000 after purchasing an additional 2,839 shares in the last quarter. Voya Investment Management LLC bought a new stake in The Descartes Systems Group during the fourth quarter worth approximately $1,928,000. Northern Trust Corp raised its holdings 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 worth $9,172,000 after purchasing an additional 8,537 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of The Descartes Systems Group in the fourth quarter valued at $1,125,000. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded up $1.57 on Friday, hitting $107.79. 714,400 shares of the stock were exchanged, compared to its average volume of 362,481. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 63.78 and a beta of 0.80. The company's 50-day moving average price is $102.33 and its two-hundred day moving average price is $104.24.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.60%. The company had revenue of $178.98 million for the quarter, compared to analysts' expectations of $176.51 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. Equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on DSGX. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday. Barclays dropped their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target on the stock. Finally, Royal Bank Of Canada lowered their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.