Premier Fund Managers Ltd Has $40.90 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• Premier Fund Managers Ltd reduced its holdings in The Descartes Systems Group by 0.9%, ending the quarter with approximately 407,913 shares valued at $40.9 million.
• The Descartes Systems Group reported a quarterly EPS of $0.41, missing estimates, and its revenue increased by 11.5% year-over-year to $168.74 million.
• Institutional investors and hedge funds own 77.73% of The Descartes Systems Group's stock, indicating strong institutional interest in the company.

Premier Fund Managers Ltd reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 407,913 shares of the technology company's stock after selling 3,506 shares during the quarter. Premier Fund Managers Ltd owned approximately 0.48% of The Descartes Systems Group worth $40,899,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at $207,000. LPL Financial LLC increased its stake in shares of The Descartes Systems Group by 34.1% in the fourth quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock valued at $2,428,000 after buying an additional 5,435 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of The Descartes Systems Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after buying an additional 54,341 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at $57,000. Finally, Korea Investment CORP increased its stake in shares of The Descartes Systems Group by 115.8% in the fourth quarter. Korea Investment CORP now owns 42,301 shares of the technology company's stock valued at $4,806,000 after buying an additional 22,700 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DSGX shares. Morgan Stanley started coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target on the stock. Barclays decreased their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Royal Bank Of Canada decreased their price target 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. Finally, Stephens decreased their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average target price of $122.18.

The Descartes Systems Group Trading Down 1.2%

Shares of NASDAQ:DSGX traded down $1.26 during trading on Friday, hitting $104.50. 294,206 shares of the company's stock traded hands, compared to its average volume of 334,880. The company has a 50-day moving average price of $104.75 and a 200-day moving average price of $107.07. The Descartes Systems Group Inc. has a 52 week low of $90.61 and a 52 week high of $124.31. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 62.95 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The firm had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. During the same period in the prior year, the business posted $0.40 EPS. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Company 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.