The Descartes Systems Group Inc. $DSGX Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451,422 shares of the technology company’s stock after selling 82,923 shares during the period. Riverbridge Partners LLC owned approximately 0.52% of The Descartes Systems Group worth $32,304,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of The Descartes Systems Group by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after buying an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in The Descartes Systems Group by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after acquiring an additional 660 shares in the last quarter. Amundi lifted its holdings in The Descartes Systems Group by 74.5% in the second quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after acquiring an additional 35,132 shares during the period. Federated Hermes Inc. lifted its holdings in The Descartes Systems Group by 25.6% in the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after acquiring an additional 254 shares during the period. Finally, AXA S.A. boosted its position in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DSGX. Raymond James Financial lowered their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Barclays decreased their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. BMO Capital Markets lowered their target price on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, March 12th. Canaccord Genuity Group dropped their target price on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Finally, Weiss Ratings downgraded shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $67.71 on Wednesday. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The company has a market capitalization of $5.82 billion, a P/E ratio of 33.85 and a beta of 0.64. The business has a 50 day moving average price of $71.94 and a 200 day moving average price of $75.33.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The Descartes Systems Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, research analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

The Descartes Systems Group 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.