Conestoga Capital Advisors LLC Reduces Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Conestoga Capital Advisors LLC cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,779,452 shares of the technology company’s stock after selling 371,040 shares during the quarter. The Descartes Systems Group accounts for 4.2% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 2nd largest holding. Conestoga Capital Advisors LLC owned 3.25% of The Descartes Systems Group worth $280,252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at $43,000. Geode Capital Management LLC lifted its stake in The Descartes Systems Group by 23.0% during the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company’s stock valued at $67,934,000 after buying an additional 110,329 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 valued at $5,134,000 after buying an additional 50,414 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of The Descartes Systems Group by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company’s stock worth $904,000 after buying an additional 438 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock worth $561,827,000 after acquiring an additional 2,800,492 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of recent analyst reports. CIBC decreased their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Barclays decreased their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, June 5th. Royal Bank of Canada dropped their price target on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, June 5th. Stephens decreased their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets lowered their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $123.40.

The Descartes Systems Group Stock Down 1.3%

The Descartes Systems Group stock opened at $97.95 on Tuesday. The business has a 50 day moving average price of $107.19 and a two-hundred day moving average price of $109.91. The Descartes Systems Group Inc. has a 12 month low of $90.61 and a 12 month high of $124.31. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 61.60 and a beta of 0.87.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts expect that The Descartes Systems Group Inc. will post 1.64 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.