Thematics Asset Management Sells 2,353 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Thematics Asset Management reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,023 shares of the technology company’s stock after selling 2,353 shares during the period. Thematics Asset Management owned approximately 0.07% of The Descartes Systems Group worth $6,592,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ellsworth Advisors LLC bought a new position in The Descartes Systems Group in the 2nd quarter worth about $527,000. Plato Investment Management Ltd bought a new position in shares of The Descartes Systems Group in the third quarter worth approximately $2,308,000. Vanguard Group Inc. raised its stake in The Descartes Systems Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock valued at $287,188,000 after purchasing an additional 40,897 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in The Descartes Systems Group by 6.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 97,129 shares of the technology company’s stock valued at $8,890,000 after purchasing an additional 6,070 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in The Descartes Systems Group by 8.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock valued at $57,514,000 after purchasing an additional 47,481 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Finally, Scotiabank raised their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Price Performance

DSGX traded down $0.84 on Tuesday, hitting $116.41. The company had a trading volume of 28,251 shares, compared to its average volume of 153,772. The Descartes Systems Group Inc. has a 52-week low of $79.21 and a 52-week high of $117.95. The stock has a fifty day simple moving average of $106.61 and a 200-day simple moving average of $100.73. The firm has a market capitalization of $9.95 billion, a P/E ratio of 79.22 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released 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 firm had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

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.