Congress Asset Management Co. Sells 9,736 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Congress Asset Management Co. lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,211,852 shares of the technology company’s stock after selling 9,736 shares during the period. Congress Asset Management Co.’s holdings in The Descartes Systems Group were worth $124,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westfield Capital Management Co. LP acquired a new position in The Descartes Systems Group during the 1st quarter worth approximately $47,481,000. Price T Rowe Associates Inc. MD increased its position in The Descartes Systems Group by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after acquiring an additional 278,796 shares during the period. William Blair Investment Management LLC acquired a new position in The Descartes Systems Group in the 2nd quarter valued at approximately $20,608,000. Grandeur Peak Global Advisors LLC acquired a new position in The Descartes Systems Group in the 1st quarter valued at approximately $19,264,000. Finally, Triasima Portfolio Management inc. increased its position in The Descartes Systems Group by 90.1% in the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after acquiring an additional 120,325 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

DSGX traded down $2.53 during trading on Thursday, reaching $103.94. 19,332 shares of the company’s stock were exchanged, compared to its average volume of 150,246. The stock has a market capitalization of $8.87 billion, a P/E ratio of 76.05 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $70.92 and a 1 year high of $108.02. The company’s fifty day simple moving average is $101.88 and its 200-day simple moving average is $98.40.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $163.43 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. Equities analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several recent analyst reports. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Scotiabank increased their price objective on shares of 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. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Finally, Barclays raised their price objective on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.17.

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.