The Descartes Systems Group Inc. $DSGX Stake Reduced by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC reduced its stake in The Descartes Systems Group by 19.6%, resulting in ownership of 13,650 shares valued at approximately $1.37 million.
• Other institutional investors such as Price T Rowe Associates and Vanguard Group increased their holdings, indicating ongoing interest from large investors.
• Despite a missed earnings estimate of $0.43 per share versus the expected $0.49, The Descartes Systems Group reported a 10% revenue increase year-over-year, totaling $178.98 million.

Voya Investment Management LLC reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,650 shares of the technology company's stock after selling 3,320 shares during the quarter. Voya Investment Management LLC's holdings in The Descartes Systems Group were worth $1,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of The Descartes Systems Group by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after purchasing an additional 936,718 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of The Descartes Systems Group by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,345,692 shares of the technology company's stock valued at $336,814,000 after purchasing an additional 46,369 shares during the last quarter. Fiera Capital Corp lifted its stake in The Descartes Systems Group by 8.0% in the 1st 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 in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in The Descartes Systems Group by 10.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company's stock worth $196,412,000 after acquiring an additional 181,086 shares in the last quarter. Finally, Geneva Capital Management LLC increased its position in The Descartes Systems Group by 0.6% in the 1st quarter. Geneva Capital Management LLC now owns 1,467,921 shares of the technology company's stock worth $148,011,000 after purchasing an additional 8,793 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 1.5%

Shares of DSGX stock opened at $103.35 on Tuesday. The stock has a 50 day moving average of $102.78 and a two-hundred day moving average of $103.65. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The company has a market capitalization of $8.88 billion, a P/E ratio of 61.15 and a beta of 0.80.

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. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on DSGX shares. Morgan Stanley started coverage on The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price on the stock. 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 research report on Thursday, June 5th. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada lowered their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $123.60.

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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