Congress Asset Management Co. lessened its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,211,852 shares of the technology company's stock after selling 9,736 shares during the period. Congress Asset Management Co. owned about 1.42% of The Descartes Systems Group worth $124,772,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of The Descartes Systems Group in the 1st quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of The Descartes Systems Group by 703.3% in 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. Intact Investment Management Inc. bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $61,000. Blue Trust Inc. grew its position in shares of The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company's stock valued at $63,000 after acquiring an additional 587 shares during the period. Finally, Andra AP fonden bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $77,000. Institutional investors own 77.73% of the company's stock.
The Descartes Systems Group Price Performance
DSGX stock traded down $2.54 during trading on Thursday, reaching $103.93. 163,960 shares of the company were exchanged, compared to its average volume of 150,970. The company has a 50-day moving average of $102.00 and a two-hundred day moving average of $98.46. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 73.89 and a beta of 0.97. The Descartes Systems Group Inc. has a twelve month low of $70.92 and a twelve month high of $108.02.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The Descartes Systems Group's revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently commented on the stock. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a report on Thursday, September 26th. Barclays lifted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an "underweight" rating in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 target price on shares of The Descartes Systems Group in a report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the stock a "buy" rating in a report on Thursday, September 5th. Finally, Scotiabank lifted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.17.
Check Out Our Latest Stock Report 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.
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