Triasima Portfolio Management inc. lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 57.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,305 shares of the technology company's stock after selling 39,655 shares during the period. Triasima Portfolio Management inc.'s holdings in The Descartes Systems Group were worth $2,971,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of The Descartes Systems Group during the first quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of The Descartes Systems Group during the first quarter valued at about $49,000. Parallel Advisors LLC raised its position in shares of The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company's stock valued at $59,000 after buying an additional 152 shares during the last quarter. GAMMA Investing LLC raised its position in shares of The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company's stock valued at $63,000 after buying an additional 117 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new position in shares of The Descartes Systems Group during the first quarter valued at about $141,000. Institutional investors and hedge funds own 77.73% of the company's stock.
The Descartes Systems Group Trading Up 0.4%
Shares of The Descartes Systems Group stock opened at $95.09 on Wednesday. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 56.27 and a beta of 0.77. The Descartes Systems Group Inc. has a 1-year low of $91.00 and a 1-year high of $124.31. The firm's 50-day moving average price is $100.55 and its two-hundred day moving average price is $103.32.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The Descartes Systems Group's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of The Descartes Systems Group in a research report on Saturday, September 27th. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. TD Cowen reissued a "buy" rating and issued a $121.00 price target on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, 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 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $121.80.
Read Our Latest Analysis on The Descartes Systems Group
About The Descartes Systems Group
(
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.
Further Reading
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