Shell Asset Management Co. Reduces Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Shell Asset Management Co. lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 41.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,402 shares of the technology company’s stock after selling 4,465 shares during the quarter. Shell Asset Management Co.’s holdings in The Descartes Systems Group were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of The Descartes Systems Group by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 19,907 shares of the technology company’s stock worth $1,468,000 after acquiring an additional 3,827 shares in the last quarter. Vanguard Group Inc. lifted its position in The Descartes Systems Group by 1.6% during the third quarter. Vanguard Group Inc. now owns 3,065,662 shares of the technology company’s stock valued at $224,958,000 after buying an additional 49,402 shares during the period. SG Americas Securities LLC purchased a new position in The Descartes Systems Group during the fourth quarter valued at $209,000. Fenimore Asset Management Inc. boosted its holdings in shares of The Descartes Systems Group by 0.6% during the 4th quarter. Fenimore Asset Management Inc. now owns 135,447 shares of the technology company’s stock valued at $11,386,000 after buying an additional 800 shares in the last quarter. Finally, Trust Point Inc. bought a new position in shares of The Descartes Systems Group in the 4th quarter worth about $781,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX traded up $1.03 during trading on Friday, hitting $100.55. 16,770 shares of the company’s stock were exchanged, compared to its average volume of 162,882. The business’s 50-day simple moving average is $97.01 and its 200 day simple moving average is $92.52. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 71.76 and a beta of 0.98. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The company had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $151.80 million. During the same period last year, the business earned $0.34 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. TD Securities upped their target price on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. Redburn Atlantic initiated coverage on shares of The Descartes Systems Group in a research report on Tuesday, May 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, Scotiabank increased their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

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.