Trust Point Inc. decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 44.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,274 shares of the technology company's stock after selling 5,072 shares during the quarter. Trust Point Inc.'s holdings in The Descartes Systems Group were worth $633,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at about $25,000. GeoWealth Management LLC grew its holdings in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after purchasing an additional 132 shares during the period. SBI Securities Co. Ltd. bought a new stake in The Descartes Systems Group in the fourth quarter valued at approximately $43,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in The Descartes Systems Group during the 4th quarter worth $57,000. Finally, Optiver Holding B.V. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $66,000. 77.73% of the stock is owned by institutional investors.
The Descartes Systems Group Stock Up 0.2%
Shares of NASDAQ:DSGX traded up $0.24 during midday trading on Friday, hitting $99.21. The stock had a trading volume of 270,355 shares, compared to its average volume of 227,769. The company has a market cap of $8.49 billion, a P/E ratio of 59.77 and a beta of 0.87. The Descartes Systems Group Inc. has a 12 month low of $90.61 and a 12 month high of $124.31. The business's 50-day simple moving average is $107.00 and its 200-day simple moving average is $109.64.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The firm had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on DSGX shares. Barclays reduced their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. CIBC dropped their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Stephens cut 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. Scotiabank upped their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 26th. Finally, BMO Capital Markets dropped their target price on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.40.
Check Out Our Latest Research Report on DSGX
The Descartes Systems Group Profile
(
Free Report)
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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