The Descartes Systems Group Inc. $DSGX Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,754 shares of the technology company’s stock after selling 10,324 shares during the quarter. JPMorgan Chase & Co. owned 0.10% of The Descartes Systems Group worth $8,615,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Swiss National Bank boosted its stake in shares of The Descartes Systems Group by 6.9% in the second quarter. Swiss National Bank now owns 260,124 shares of the technology company’s stock worth $26,323,000 after buying an additional 16,700 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in The Descartes Systems Group by 14.6% in the second quarter. TD Waterhouse Canada Inc. now owns 10,707 shares of the technology company’s stock valued at $1,091,000 after acquiring an additional 1,362 shares during the period. Empowered Funds LLC boosted its position in The Descartes Systems Group by 73.4% in the 2nd quarter. Empowered Funds LLC now owns 41,599 shares of the technology company’s stock worth $4,228,000 after purchasing an additional 17,603 shares in the last quarter. Intrust Bank NA acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth approximately $267,000. Finally, Summitry LLC increased its holdings in shares of The Descartes Systems Group by 29.9% during the 2nd quarter. Summitry LLC now owns 4,453 shares of the technology company’s stock valued at $453,000 after purchasing an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 0.6%

Shares of The Descartes Systems Group stock opened at $91.79 on Wednesday. The Descartes Systems Group Inc. has a twelve month low of $78.88 and a twelve month high of $124.31. The firm has a market capitalization of $7.89 billion, a PE ratio of 51.86 and a beta of 0.74. The firm’s 50-day moving average price is $89.14 and its 200 day moving average price is $98.08.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same period in the previous year, the business earned $0.42 EPS. The Descartes Systems Group’s quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on DSGX. BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Morgan Stanley raised their target price on The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. TD Cowen reiterated a “buy” rating and set a $121.00 price target on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Finally, Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $118.45.

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.