Addenda Capital Inc. Sells 10,930 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Addenda Capital Inc. decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 215,260 shares of the technology company’s stock after selling 10,930 shares during the quarter. The Descartes Systems Group comprises approximately 1.0% of Addenda Capital Inc.’s investment portfolio, making the stock its 29th largest position. Addenda Capital Inc.’s holdings in The Descartes Systems Group were worth $20,846,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DSGX. Canandaigua National Bank & Trust Co. acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth approximately $295,000. First Hawaiian Bank acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth approximately $1,612,000. Park Place Capital Corp grew its position in shares of The Descartes Systems Group by 31.6% during the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after buying an additional 212 shares during the period. NBW Capital LLC grew its position in shares of The Descartes Systems Group by 3.5% during the 1st quarter. NBW Capital LLC now owns 71,509 shares of the technology company’s stock worth $6,545,000 after buying an additional 2,392 shares during the period. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in shares of The Descartes Systems Group during the 1st quarter worth approximately $19,264,000. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on DSGX shares. Stephens raised their price objective on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research report on Friday, May 31st. Redburn Atlantic assumed coverage on shares of The Descartes Systems Group in a research report on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price target for the company. Barclays lifted their price target on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Finally, StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

The Descartes Systems Group Stock Up 1.4 %

NASDAQ:DSGX traded up $1.37 during trading hours on Wednesday, hitting $97.45. 95,800 shares of the company traded hands, compared to its average volume of 160,232. The firm’s 50-day simple moving average is $97.27 and its 200-day simple moving average is $93.72. The Descartes Systems Group Inc. has a one year low of $69.59 and a one year high of $104.71. The company has a market cap of $8.32 billion, a PE ratio of 69.61 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The company had revenue of $151.30 million for the quarter, compared to the consensus estimate of $151.80 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The Descartes Systems Group’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.7 EPS 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.