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

Thematics Asset Management cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 64,023 shares of the technology company’s stock after selling 2,353 shares during the period. Thematics Asset Management’s holdings in The Descartes Systems Group were worth $6,592,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DSGX. Avior Wealth Management LLC lifted its holdings in shares of The Descartes Systems Group by 2.8% during the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after purchasing an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in shares of The Descartes Systems Group by 3.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock valued at $388,000 after acquiring an additional 137 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of The Descartes Systems Group by 4.3% in the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after acquiring an additional 158 shares during the period. Assetmark Inc. raised its holdings in shares of The Descartes Systems Group by 3.5% during the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after purchasing an additional 197 shares during the last quarter. Finally, Park Place Capital Corp boosted its holdings in The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 0.7 %

Shares of NASDAQ DSGX traded down $0.84 during mid-day trading on Tuesday, reaching $116.41. 28,251 shares of the company were exchanged, compared to its average volume of 153,772. The firm has a 50-day moving average of $106.61 and a 200 day moving average of $100.73. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $117.95. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 79.22 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DSGX shares. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Barclays raised 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. Scotiabank boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

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.