Zurcher Kantonalbank Zurich Cantonalbank Has $3.99 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• Zurcher Kantonalbank reduced its stake in The Descartes Systems Group by 26.1% in Q1, holding 39,592 shares worth approximately $3.99 million at the end of the quarter.
• A number of hedge funds have recently changed their holdings in The Descartes Systems Group, with a collective institutional ownership of 77.73%.
• The Descartes Systems Group's latest earnings report showed a miss in EPS of $0.41, below the consensus estimate of $0.46, despite an 11.5% year-over-year revenue increase.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 26.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,592 shares of the technology company's stock after selling 13,993 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in The Descartes Systems Group were worth $3,985,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in DSGX. NBC Securities Inc. acquired a new stake in shares of The Descartes Systems Group during the first quarter valued at $25,000. GeoWealth Management LLC boosted its stake in shares of 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 acquiring an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of The Descartes Systems Group during the first quarter valued at $49,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group during the fourth quarter valued at $57,000. Finally, Optiver Holding B.V. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 0.8%

DSGX traded up $0.90 during midday trading on Tuesday, reaching $107.36. The company's stock had a trading volume of 114,070 shares, compared to its average volume of 332,967. The stock has a market cap of $9.22 billion, a P/E ratio of 64.62 and a beta of 0.81. The company has a fifty day simple moving average of $104.37 and a 200 day simple moving average of $106.84. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data 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 Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The firm had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same quarter in the prior year, the business posted $0.40 EPS. The Descartes Systems Group's revenue was up 11.5% compared to the same quarter last year. Sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on DSGX. Royal Bank Of Canada lowered their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Morgan Stanley started coverage on The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective on the stock. Wall Street Zen lowered The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday. Barclays reduced their price objective 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, Stephens reduced their price objective 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. One analyst has rated the stock with a sell rating, three have issued 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 has an average rating of "Moderate Buy" and a consensus price target of $122.18.

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.