The Descartes Systems Group Inc. $DSGX Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A has reduced its holdings in The Descartes Systems Group Inc. by 42.9%, now owning 11,220 shares worth approximately $1.13 million.
• Mackenzie Financial Corp significantly increased its stake in the company by 130.4%, acquiring an additional 2.8 million shares, boosting its total to 4.9 million shares valued at about $561.8 million.
• The company reported an earnings miss for its most recent quarter with an EPS of $0.41, falling short of the consensus estimate of $0.46, although revenue grew 11.5% year-over-year.

Credit Agricole S A cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 42.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,220 shares of the technology company's stock after selling 8,414 shares during the period. Credit Agricole S A's holdings in The Descartes Systems Group were worth $1,131,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DSGX. Mackenzie Financial Corp increased its holdings in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after purchasing an additional 2,800,492 shares during the period. Praesidium Investment Management Company LLC acquired a new stake in The Descartes Systems Group during the fourth quarter worth about $54,724,000. Nuveen LLC acquired a new stake in The Descartes Systems Group during the first quarter worth about $21,074,000. Fiera Capital Corp grew its holdings in The Descartes Systems Group by 8.0% during the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after acquiring an additional 202,973 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in The Descartes Systems Group by 25.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company's stock worth $63,183,000 after acquiring an additional 125,146 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 2.3%

Shares of DSGX opened at $101.37 on Monday. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The stock's 50 day moving average is $102.32 and its two-hundred day moving average is $105.16. The firm has a market cap of $8.71 billion, a P/E ratio of 61.07 and a beta of 0.81.

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

Wall Street Analysts Forecast Growth

DSGX has been the topic of several analyst reports. Royal Bank Of Canada dropped their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Wall Street Zen lowered The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Barclays dropped their target price 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. Finally, Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

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.

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