Vontobel Holding Ltd. Sells 9,272 Shares of The Descartes Systems Group Inc. $DSGX

Vontobel Holding Ltd. lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 20.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 36,741 shares of the technology company’s stock after selling 9,272 shares during the period. Vontobel Holding Ltd.’s holdings in The Descartes Systems Group were worth $3,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in The Descartes Systems Group during the 2nd quarter valued at approximately $117,678,000. Temasek Holdings Private Ltd purchased a new position in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $91,155,000. CIBC Asset Management Inc lifted its stake in shares of The Descartes Systems Group by 275.4% in the 2nd quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company’s stock valued at $85,085,000 after purchasing an additional 613,009 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of The Descartes Systems Group during the second quarter valued at approximately $48,378,000. Finally, Granahan Investment Management LLC raised its holdings in The Descartes Systems Group by 715.5% in the first quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company’s stock worth $38,213,000 after purchasing an additional 332,508 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $89.07 on Friday. The firm’s 50 day moving average price is $87.85 and its 200-day moving average price is $96.42. The Descartes Systems Group Inc. has a 52-week low of $78.88 and a 52-week high of $124.31. The company has a market cap of $7.66 billion, a PE ratio of 50.32 and a beta of 0.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. The company had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on DSGX shares. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. TD Cowen reissued a “buy” rating and set a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. Barclays lowered their target price on shares of The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday, December 4th. Finally, Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.30.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.