Vontobel Holding Ltd. Sells 304,204 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Vontobel Holding Ltd. lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 70.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 125,812 shares of the technology company's stock after selling 304,204 shares during the period. Vontobel Holding Ltd. owned 0.15% of The Descartes Systems Group worth $12,668,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its stake in shares of The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the period. Vanguard Group Inc. lifted its stake in shares of The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after acquiring an additional 54,341 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of The Descartes Systems Group by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after acquiring an additional 101,290 shares during the period. Franklin Resources Inc. lifted its stake in shares of The Descartes Systems Group by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after acquiring an additional 639,848 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded up $1.68 during midday trading on Friday, reaching $103.24. The stock had a trading volume of 436,074 shares, compared to its average volume of 240,130. The firm's fifty day simple moving average is $106.79 and its 200-day simple moving average is $108.24. The Descartes Systems Group Inc. has a 1-year low of $90.61 and a 1-year high of $124.31. The stock has a market capitalization of $8.86 billion, a P/E ratio of 62.19 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 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 firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. On average, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DSGX shares. Royal Bank Of Canada cut their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. 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 research note on Wednesday, April 9th. Barclays cut 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 note on Thursday, June 5th. Finally, Scotiabank increased their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $123.40.

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.