Zeno Equity Partners LLP Sells 121,349 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Zeno Equity Partners LLP has reduced its stake in The Descartes Systems Group by 47.4%, selling 121,349 shares and owning 134,800 shares afterward, making it their 9th largest position.
• The Descartes Systems Group reported Q1 earnings per share (EPS) of $0.43, missing estimates of $0.49, while revenues increased by 10% year-over-year to $178.98 million.
• The company's current stock rating averages at a "Moderate Buy" with a price target of $123.60, despite recent downgrades from firms like Barclays and Royal Bank of Canada.

Zeno Equity Partners LLP lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 47.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,800 shares of the technology company's stock after selling 121,349 shares during the quarter. The Descartes Systems Group makes up about 4.7% of Zeno Equity Partners LLP's holdings, making the stock its 9th largest position. Zeno Equity Partners LLP owned 0.16% of The Descartes Systems Group worth $13,592,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of The Descartes Systems Group during the first quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of The Descartes Systems Group during the first quarter worth about $49,000. Versant Capital Management Inc grew its holdings in shares of The Descartes Systems Group by 2,013.5% during the first quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company's stock worth $111,000 after buying an additional 1,047 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of The Descartes Systems Group during the first quarter worth about $141,000. Finally, Vident Advisory LLC purchased a new position in shares of The Descartes Systems Group during the first quarter worth about $220,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Down 0.3%

Shares of NASDAQ:DSGX opened at $107.44 on Tuesday. The company has a market cap of $9.23 billion, a P/E ratio of 63.57 and a beta of 0.80. The Descartes Systems Group Inc. has a 52 week low of $92.00 and a 52 week high of $124.31. The company has a 50-day moving average price of $102.57 and a 200 day moving average price of $104.02.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The company had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The Descartes Systems Group's revenue was up 10.0% on a year-over-year basis. Analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DSGX. Barclays lowered 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. Morgan Stanley began coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Zacks Research raised The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Wall Street Zen raised The Descartes Systems Group from a "sell" rating to a "hold" rating in a report on Friday. Finally, Royal Bank Of Canada lowered 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.60.

About The Descartes Systems Group

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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