Thematics Asset Management Sells 3,218 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Thematics Asset Management decreased its holdings in The Descartes Systems Group by 5.8%, now owning approximately 52,263 shares valued at $5.27 million.
• Brokerage analysts have mixed views on DSGX, with Barclays lowering their price target from $118 to $108 and Royal Bank of Canada reducing theirs from $130 to $126.
• The Descartes Systems Group reported earnings of $0.41 per share last quarter, missing expectations, despite a revenue increase of 11.5% year-over-year.

Thematics Asset Management reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 5.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 52,263 shares of the technology company's stock after selling 3,218 shares during the period. Thematics Asset Management owned about 0.06% of The Descartes Systems Group worth $5,270,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of DSGX. NBC Securities Inc. acquired a new stake in The Descartes Systems Group in the 1st quarter valued at about $25,000. GeoWealth Management LLC lifted its stake in The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in The Descartes Systems Group in the 1st quarter valued at about $49,000. Optiver Holding B.V. acquired a new stake in The Descartes Systems Group in the 4th quarter valued at about $66,000. Finally, Johnson Financial Group Inc. lifted its stake in The Descartes Systems Group by 830.9% in the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after purchasing an additional 781 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded up $1.78 on Wednesday, hitting $99.70. 715,219 shares of the company's stock were exchanged, compared to its average volume of 461,888. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The stock has a market cap of $8.56 billion, a P/E ratio of 60.06 and a beta of 0.81. The company has a 50 day moving average of $102.35 and a 200 day moving average of $104.93.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $168.74 million for 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 Descartes Systems Group's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DSGX shares. 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 note on Thursday, June 5th. Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. 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 objective for the company. Finally, Royal Bank Of Canada decreased their target price on 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 research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.