The Descartes Systems Group Inc. $DSGX Stake Lessened by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 35.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,938 shares of the technology company's stock after selling 82,400 shares during the period. William Blair Investment Management LLC owned about 0.18% of The Descartes Systems Group worth $15,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of The Descartes Systems Group by 23.2% in the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock worth $63,000 after buying an additional 117 shares during the last quarter. Wealth Alliance LLC increased its stake in The Descartes Systems Group by 5.4% during the first quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock valued at $232,000 after purchasing an additional 118 shares during the last quarter. Ritholtz Wealth Management increased its stake in The Descartes Systems Group by 1.9% during the second quarter. Ritholtz Wealth Management now owns 6,540 shares of the technology company's stock valued at $665,000 after purchasing an additional 125 shares during the last quarter. Parallel Advisors LLC increased its stake in The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock valued at $59,000 after purchasing an additional 152 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its stake in The Descartes Systems Group by 4.7% during the first quarter. Alliance Wealth Advisors LLC UT now owns 3,464 shares of the technology company's stock valued at $349,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DSGX. Weiss Ratings reiterated a "hold (c+)" rating on shares of The Descartes Systems Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. TD Cowen reiterated a "buy" rating and set a $121.00 target price on shares of The Descartes Systems Group in a research note on Friday, October 3rd. TD Securities began coverage on shares of The Descartes Systems Group in a research note on Friday, October 3rd. They set a "buy" rating and a $121.00 target price for the company. Finally, Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $121.80.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $96.28 on Monday. The Descartes Systems Group Inc. has a 1 year low of $91.00 and a 1 year high of $124.31. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 56.97 and a beta of 0.77. The firm has a fifty day moving average of $99.25 and a 200-day moving average of $103.01.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (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 10.41%. The firm had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same period last year, the firm posted $0.40 EPS. The business's revenue was up 10.0% compared to the same quarter last year. Analysts predict 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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