Quadrature Capital Ltd Lowers Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Quadrature Capital Ltd lowered its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 73.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,000 shares of the technology company’s stock after selling 114,000 shares during the quarter. Quadrature Capital Ltd’s holdings in The Descartes Systems Group were worth $3,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after purchasing an additional 40,897 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in shares of The Descartes Systems Group by 0.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,049,464 shares of the technology company’s stock worth $279,117,000 after purchasing an additional 23,285 shares during the last quarter. Fiera Capital Corp raised its position in shares of The Descartes Systems Group by 9.3% in the 4th quarter. Fiera Capital Corp now owns 2,422,044 shares of the technology company’s stock worth $204,169,000 after purchasing an additional 206,193 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of The Descartes Systems Group by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after purchasing an additional 154,110 shares during the last quarter. Finally, Geneva Capital Management LLC raised its position in shares of The Descartes Systems Group by 0.4% in the 4th quarter. Geneva Capital Management LLC now owns 1,468,407 shares of the technology company’s stock worth $123,434,000 after purchasing an additional 6,497 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded up $0.97 during trading hours on Friday, reaching $100.49. 54,515 shares of the company traded hands, compared to its average volume of 126,818. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $104.71. The company has a market cap of $8.58 billion, a P/E ratio of 71.78 and a beta of 0.98. The firm has a 50-day moving average price of $97.06 and a 200 day moving average price of $92.66.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share 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 in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.7 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Raymond James lifted their price target on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research report on Friday, May 31st. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a report on Monday, April 1st. TD Securities lifted their price objective on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets lifted their price objective on The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

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.