The Descartes Systems Group Inc. $DSGX Stake Cut by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in The Descartes Systems Group by 90.3%, now holding only 2,815 shares after selling 26,200 during the second quarter.
• Recent analyst reports reflect mixed sentiments, with Weiss Ratings maintaining a "hold" rating, while TD Securities and TD Cowen issued "buy" ratings with a price target of $121.00.
• The Descartes Systems Group missed earnings expectations with an EPS of $0.43, lower than the anticipated $0.49, even as revenue increased by 10% year-over-year.

J. Safra Sarasin Holding AG lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 90.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,815 shares of the technology company's stock after selling 26,200 shares during the quarter. J. Safra Sarasin Holding AG's holdings in The Descartes Systems Group were worth $285,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock worth $63,000 after purchasing an additional 117 shares during the period. Wealth Alliance LLC lifted its position in The Descartes Systems Group by 5.4% in the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock worth $232,000 after buying an additional 118 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of The Descartes Systems Group by 35.1% during the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock valued at $59,000 after buying an additional 152 shares during the period. Alliance Wealth Advisors LLC UT boosted its stake in shares of The Descartes Systems Group by 4.7% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 3,464 shares of the technology company's stock valued at $349,000 after buying an additional 154 shares during the period. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of The Descartes Systems Group by 0.4% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock valued at $4,282,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analyst Weigh In

DSGX has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of The Descartes Systems Group in a report on Saturday, September 27th. TD Securities began coverage on The Descartes Systems Group in a research report on Friday. They issued a "buy" rating and a $121.00 target price on the stock. Morgan Stanley began coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target for the company. TD Cowen reissued a "buy" rating and issued a $121.00 price target on shares of The Descartes Systems Group in a research note on Friday. Finally, Wall Street Zen upgraded The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $121.80.

The Descartes Systems Group Stock Up 1.7%

DSGX stock opened at $93.90 on Monday. The Descartes Systems Group Inc. has a twelve month low of $91.00 and a twelve month high of $124.31. The company has a market cap of $8.07 billion, a PE ratio of 55.56 and a beta of 0.77. The business's 50-day simple moving average is $101.02 and its 200 day simple moving average is $103.42.

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 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 firm had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. During the same quarter in the prior year, the business posted $0.40 EPS. The Descartes Systems Group's revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.

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