The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in The Descartes Systems Group by 21.9%, selling over 1 million shares, and now holds approximately 4.51% of the company.
• The Descartes Systems Group reported an earnings miss in its latest quarter, with EPS of $0.41, falling short of the $0.46 consensus estimate.
• Analyst ratings for The Descartes Systems Group show an average rating of "Moderate Buy", with a current consensus target price of $122.18.

Mackenzie Financial Corp decreased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,864,448 shares of the technology company's stock after selling 1,083,341 shares during the period. Mackenzie Financial Corp owned approximately 4.51% of The Descartes Systems Group worth $389,023,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in The Descartes Systems Group during the 1st quarter valued at about $25,000. GeoWealth Management LLC grew its stake in shares of The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of The Descartes Systems Group in the 1st quarter worth approximately $49,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $57,000. Finally, Optiver Holding B.V. acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 1.1%

Shares of DSGX stock opened at $107.67 on Monday. The stock has a 50 day moving average of $105.32 and a two-hundred day moving average of $107.15. The Descartes Systems Group Inc. has a 12 month low of $90.61 and a 12 month high of $124.31. The company has a market capitalization of $9.24 billion, a P/E ratio of 64.86 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company 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 last year, the business earned $0.40 EPS. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of several analyst reports. Stephens dropped their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Barclays dropped their target price on shares of 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. Morgan Stanley initiated coverage on shares of 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. Finally, Royal Bank Of Canada dropped their target price on shares of 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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