The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,396 shares of the technology company’s stock after selling 454 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Descartes Systems Group were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of The Descartes Systems Group by 26.7% in the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after purchasing an additional 147 shares during the period. DekaBank Deutsche Girozentrale raised its position in The Descartes Systems Group by 4.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 6,529 shares of the technology company’s stock worth $541,000 after acquiring an additional 282 shares during the period. Korea Investment CORP raised its position in The Descartes Systems Group by 2.4% during the third quarter. Korea Investment CORP now owns 18,480 shares of the technology company’s stock worth $1,363,000 after acquiring an additional 432 shares during the period. Operose Advisors LLC acquired a new position in The Descartes Systems Group during the third quarter worth $35,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in The Descartes Systems Group by 19.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock worth $228,000 after acquiring an additional 500 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Down 0.3 %

The Descartes Systems Group stock opened at $94.24 on Friday. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $96.10. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 70.33 and a beta of 0.94. The company has a fifty day simple moving average of $90.22 and a 200-day simple moving average of $84.37.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The Descartes Systems Group’s quarterly revenue was up 18.5% on a year-over-year basis. On average, research analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Analyst Ratings Changes

DSGX has been the subject of a number of research analyst reports. Wolfe Research upgraded shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research report on Wednesday, January 10th. CIBC upgraded shares of The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and upped their price objective for the stock from $96.50 to $101.00 in a research report on Tuesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $110.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, April 11th. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Finally, Scotiabank upped their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

The Descartes Systems Group Company 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.