Scout Investments Inc. Cuts Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Scout Investments Inc. reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,265 shares of the technology company’s stock after selling 7,085 shares during the quarter. Scout Investments Inc. owned approximately 0.13% of The Descartes Systems Group worth $10,350,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its position in shares of The Descartes Systems Group by 10.5% during the fourth quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock worth $65,201,000 after purchasing an additional 73,410 shares in the last quarter. Quadrature Capital Ltd raised its stake in The Descartes Systems Group by 13.6% in the fourth quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after buying an additional 18,700 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in The Descartes Systems Group by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock worth $24,043,000 after acquiring an additional 8,722 shares in the last quarter. Zeno Equity Partners LLP purchased a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $11,108,000. Finally, Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group by 8.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after acquiring an additional 154,110 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research analyst reports. Raymond James raised their price target on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a report on Friday, May 31st. Barclays raised their target price on The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research note on Friday, May 17th. BMO Capital Markets increased their price objective on The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday, May 30th. Stephens raised their price objective on The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada upped their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

The Descartes Systems Group Trading Up 1.0 %

Shares of The Descartes Systems Group stock traded up $1.01 during trading hours on Friday, reaching $99.59. The stock had a trading volume of 118,426 shares, compared to its average volume of 164,691. The stock’s 50 day moving average is $96.75 and its 200 day moving average is $91.88. The Descartes Systems Group Inc. has a twelve month low of $69.59 and a twelve month high of $104.71. The firm has a market capitalization of $8.50 billion, a PE ratio of 70.78 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results 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 return on equity of 9.96% and a net margin of 20.62%. The business had revenue of $151.30 million during the quarter, compared to analyst estimates of $151.80 million. During the same period in the previous year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current year.

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.