The Descartes Systems Group Inc. $DSGX Shares Sold by Thematics Asset Management

Thematics Asset Management decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,263 shares of the technology company’s stock after selling 3,218 shares during the period. Thematics Asset Management owned approximately 0.06% of The Descartes Systems Group worth $5,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of The Descartes Systems Group during the 1st quarter worth approximately $16,733,000. Freedom Investment Management Inc. boosted its stake in shares of The Descartes Systems Group by 16.1% during the 1st quarter. Freedom Investment Management Inc. now owns 2,606 shares of the technology company’s stock worth $263,000 after acquiring an additional 361 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of The Descartes Systems Group by 28.0% during the 1st quarter. Synovus Financial Corp now owns 19,939 shares of the technology company’s stock worth $2,011,000 after acquiring an additional 4,360 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of The Descartes Systems Group by 12.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,766 shares of the technology company’s stock worth $9,038,000 after acquiring an additional 9,910 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of The Descartes Systems Group by 12.2% during the 1st quarter. 1832 Asset Management L.P. now owns 249,466 shares of the technology company’s stock worth $25,154,000 after acquiring an additional 27,089 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DSGX. Barclays decreased their price target on 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. Morgan Stanley started coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 price target on the stock. Royal Bank Of Canada reduced their target price on 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. Finally, Wall Street Zen lowered The Descartes Systems Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $101.37 on Friday. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 61.07 and a beta of 0.81. The company’s 50 day simple moving average is $102.32 and its 200 day simple moving average is $105.26. The Descartes Systems Group Inc. has a 1 year low of $92.00 and a 1 year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The business had revenue of $168.74 million for the quarter, compared to analysts’ expectations of $169.60 million. During the same period in the prior year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal 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.