The Descartes Systems Group Inc. $DSGX Stock Sold by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments reduced its Descartes Systems Group stake by 30.2% in the third quarter, selling 25,101 shares and retaining 58,115 shares valued at approximately $4.7 million. Institutional investors collectively own 77.73% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $100.33. Recent targets range from $90 to $98, including a “Buy” rating from Loop Capital.
• Descartes reported quarterly revenue of $198.12 million, up 11.8% year over year, while earnings of $0.57 per share matched expectations. Shares opened at $90.23, with a market capitalization of $7.72 billion and a price-to-earnings ratio of 40.49.

Louisbourg Investments Inc. cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 30.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,115 shares of the technology company's stock after selling 25,101 shares during the quarter. Louisbourg Investments Inc. owned about 0.07% of The Descartes Systems Group worth $4,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DSGX. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group during the second quarter valued at about $33,000. Keating Financial Advisory Services Inc. purchased a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its position in shares of The Descartes Systems Group by 57.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company's stock worth $39,000 after buying an additional 200 shares during the last quarter. Allworth Financial LP purchased a new position in shares of The Descartes Systems Group in the 2nd quarter worth approximately $49,000. Finally, Parallel Advisors LLC raised its stake in shares of The Descartes Systems Group by 124.7% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the technology company's stock worth $54,000 after acquiring an additional 419 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DSGX shares. Loop Capital reaffirmed a "buy" rating and issued a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, October 8th. BMO Capital Markets increased their price objective on The Descartes Systems Group from $82.00 to $90.00 and gave the company a "market perform" rating in a report on Tuesday, October 13th. Weiss Ratings upgraded The Descartes Systems Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, September 21st. Scotiabank raised their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research report on Friday, September 11th. Finally, Scotia raised their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the stock a "sector outperform" rating in a research report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.33.

The Descartes Systems Group Stock Up 4.1%

Shares of NASDAQ:DSGX opened at $90.23 on Wednesday. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $97.71. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 40.49 and a beta of 0.65. The business has a 50-day moving average price of $79.80 and a 200-day moving average price of $74.79.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Thursday, September 10th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $198.12 million for the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The Descartes Systems Group's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

About The Descartes Systems Group

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes' products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.

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