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

Riverbridge Partners LLC lessened its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 451,422 shares of the technology company’s stock after selling 82,923 shares during the period. Riverbridge Partners LLC’s holdings in The Descartes Systems Group were worth $32,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Clearbridge Investments LLC lifted its stake in shares of The Descartes Systems Group by 25.2% during the 4th quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock worth $35,402,000 after purchasing an additional 81,354 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of The Descartes Systems Group in the third quarter valued at $1,954,000. Aviso Financial Inc. increased its stake in The Descartes Systems Group by 247.6% in the third quarter. Aviso Financial Inc. now owns 27,141 shares of the technology company’s stock valued at $2,556,000 after purchasing an additional 19,333 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. increased its stake in The Descartes Systems Group by 303.0% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 339,370 shares of the technology company’s stock valued at $31,961,000 after purchasing an additional 255,154 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its position in The Descartes Systems Group by 63.3% during the third quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock worth $137,968,000 after buying an additional 567,386 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the topic of a number of research analyst reports. Canaccord Genuity Group decreased their price target on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Weiss Ratings lowered shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Barclays decreased their target price on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Zacks Research downgraded shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.17.

The Descartes Systems Group Trading Up 1.9%

DSGX stock opened at $67.71 on Wednesday. The stock has a 50-day moving average price of $71.94 and a two-hundred day moving average price of $75.33. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The company has a market cap of $5.82 billion, a PE ratio of 33.85 and a beta of 0.64.

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

About The Descartes Systems Group

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.