The Descartes Systems Group Inc. $DSGX Shares Sold by Norden Group LLC

Norden Group LLC decreased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,748 shares of the technology company’s stock after selling 289 shares during the quarter. Norden Group LLC’s holdings in The Descartes Systems Group were worth $686,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. American Century Companies Inc. boosted its position in The Descartes Systems Group by 5.9% during the first quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock worth $22,543,000 after acquiring an additional 12,571 shares during the last quarter. GAMMA Investing LLC boosted its position in The Descartes Systems Group by 9,983.0% during the first quarter. GAMMA Investing LLC now owns 50,919 shares of the technology company’s stock worth $5,134,000 after acquiring an additional 50,414 shares during the last quarter. Bank of New York Mellon Corp boosted its position in The Descartes Systems Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company’s stock worth $12,940,000 after acquiring an additional 3,316 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in The Descartes Systems Group during the second quarter worth about $1,230,000. Finally, United Services Automobile Association acquired a new position in The Descartes Systems Group during the first quarter worth about $319,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 target price on the stock. Royal Bank Of Canada reduced their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, June 5th. Barclays reduced their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 5th. Wall Street Zen raised shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.44.

The Descartes Systems Group Stock Down 1.8%

Shares of DSGX opened at $96.29 on Friday. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The firm’s 50 day moving average price is $102.45 and its 200 day moving average price is $103.59. The company has a market cap of $8.28 billion, a P/E ratio of 56.98 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The business had revenue of $178.98 million for the quarter, compared to analysts’ expectations of $176.51 million. During the same period in the previous year, the company earned $0.40 earnings per share. The Descartes Systems Group’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

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.