The Descartes Systems Group Inc. $DSGX is Zeno Equity Partners LLP's 9th Largest Position

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

A number of other large investors also recently made changes to their positions in DSGX. NBC Securities Inc. bought a new position in shares of The Descartes Systems Group during the first quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new position in shares of The Descartes Systems Group during the first quarter valued at about $49,000. Versant Capital Management Inc lifted its position 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 valued at $111,000 after purchasing an additional 1,047 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of The Descartes Systems Group during the first quarter valued at about $141,000. Finally, Vident Advisory LLC bought a new position in shares of The Descartes Systems Group during the first quarter valued at about $220,000. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DSGX. 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. Morgan Stanley began coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. 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. Barclays lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.60.

The Descartes Systems Group Stock Performance

DSGX stock traded down $2.69 during mid-day trading on Friday, hitting $104.30. The company had a trading volume of 487,393 shares, compared to its average volume of 468,280. The firm has a market cap of $8.96 billion, a PE ratio of 61.72 and a beta of 0.80. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31. The stock's fifty day moving average price is $102.85 and its two-hundred day moving average price is $103.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $178.98 million during 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 business's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. Equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.