Millennium Management LLC trimmed its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,788 shares of the technology company's stock after selling 10,831 shares during the period. Millennium Management LLC owned about 0.12% of The Descartes Systems Group worth $9,567,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of DSGX. Central Pacific Bank Trust Division acquired a new stake in shares of The Descartes Systems Group during the 1st quarter valued at approximately $28,000. Accent Capital Management LLC acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at approximately $32,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company's stock valued at $45,000 after acquiring an additional 429 shares during the period. Park Place Capital Corp lifted its position in shares of The Descartes Systems Group by 48.5% during the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company's stock valued at $61,000 after acquiring an additional 219 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $61,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on DSGX shares. Barclays raised their price objective on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an "underweight" rating in a research note on Thursday, September 5th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the stock a "buy" rating in a research note on Thursday, September 5th. Royal Bank of Canada reissued an "outperform" rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Finally, BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a "market perform" rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.83.
Read Our Latest Stock Report on DSGX
The Descartes Systems Group Stock Up 2.4 %
Shares of NASDAQ DSGX traded up $2.44 during trading on Wednesday, hitting $104.49. 151,115 shares of the company traded hands, compared to its average volume of 152,632. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $105.12. The company has a 50-day moving average price of $99.43 and a 200-day moving average price of $96.87. The firm has a market capitalization of $8.92 billion, a P/E ratio of 74.64 and a beta of 0.97.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company had revenue of $163.43 million for the quarter, compared to analysts' expectations of $160.17 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 14.0% on a year-over-year basis. Research analysts predict that The Descartes Systems Group Inc. will post 1.67 EPS for the current fiscal year.
The Descartes Systems Group Profile
(
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.
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