Park Avenue Securities LLC Sells 677 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Park Avenue Securities LLC decreased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,811 shares of the technology company’s stock after selling 677 shares during the period. Park Avenue Securities LLC’s holdings in The Descartes Systems Group were worth $392,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in shares of The Descartes Systems Group by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after buying an additional 11,025 shares in the last quarter. Russell Investments Group Ltd. grew its position in The Descartes Systems Group by 3.4% during the 1st quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock worth $24,043,000 after acquiring an additional 8,722 shares during the last quarter. Ellsworth Advisors LLC bought a new position in The Descartes Systems Group during the 2nd quarter worth approximately $527,000. TD Asset Management Inc grew its position in shares of The Descartes Systems Group by 6.2% in the 1st quarter. TD Asset Management Inc now owns 820,432 shares of the technology company’s stock worth $75,114,000 after buying an additional 47,949 shares during the last quarter. Finally, Quadrature Capital Ltd grew its position in shares of The Descartes Systems Group by 13.6% in the 4th quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock worth $13,131,000 after buying an additional 18,700 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

DSGX stock opened at $105.70 on Friday. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $106.22. The business has a fifty day moving average price of $99.72 and a 200-day moving average price of $97.04. The stock has a market capitalization of $9.02 billion, a P/E ratio of 75.50 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

DSGX has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Barclays lifted their price objective on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. BMO Capital Markets lifted their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Finally, National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $104.83.

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.