DekaBank Deutsche Girozentrale Sells 305 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

DekaBank Deutsche Girozentrale cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,472 shares of the technology company’s stock after selling 305 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in The Descartes Systems Group were worth $656,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in The Descartes Systems Group in the first quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. raised its stake in 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. acquired a new stake in The Descartes Systems Group during the 2nd quarter valued at $61,000. Blue Trust Inc. boosted its position in The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. Finally, Andra AP fonden acquired a new position in shares of The Descartes Systems Group in the second quarter valued at $77,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DSGX shares. Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Scotiabank upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 24th. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, BMO Capital Markets lifted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $106.27 on Friday. The business has a fifty day moving average price of $102.22 and a two-hundred day moving average price of $98.63. The stock has a market capitalization of $9.08 billion, a PE ratio of 71.80 and a beta of 0.97. The Descartes Systems Group Inc. has a fifty-two week low of $72.67 and a fifty-two week high of $108.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data 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 business had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

The Descartes Systems Group 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.