The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC decreased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,779,452 shares of the technology company’s stock after selling 371,040 shares during the quarter. The Descartes Systems Group makes up about 4.2% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Conestoga Capital Advisors LLC’s holdings in The Descartes Systems Group were worth $280,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Louisbourg Investments Inc. grew its stake in The Descartes Systems Group by 260.2% during the first quarter. Louisbourg Investments Inc. now owns 18,335 shares of the technology company’s stock worth $1,848,000 after buying an additional 13,245 shares during the last quarter. Vista Finance LLC boosted its holdings in shares of The Descartes Systems Group by 7.0% in the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company’s stock worth $314,000 after acquiring an additional 203 shares in the last quarter. Portside Wealth Group LLC grew its position in The Descartes Systems Group by 48.8% during the 1st quarter. Portside Wealth Group LLC now owns 5,076 shares of the technology company’s stock worth $512,000 after acquiring an additional 1,664 shares during the last quarter. Fenimore Asset Management Inc increased its holdings in The Descartes Systems Group by 0.4% during the 1st quarter. Fenimore Asset Management Inc now owns 130,887 shares of the technology company’s stock valued at $13,197,000 after purchasing an additional 485 shares in the last quarter. Finally, Capital CS Group LLC acquired a new stake in The Descartes Systems Group during the 1st quarter valued at $246,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Down 1.3%

Shares of NASDAQ DSGX opened at $97.95 on Tuesday. The firm has a market capitalization of $8.39 billion, a PE ratio of 61.60 and a beta of 0.87. The firm’s 50-day moving average is $107.19 and its 200-day moving average is $109.91. The Descartes Systems Group Inc. has a 1 year low of $90.61 and a 1 year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The business had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same period in the previous year, the business posted $0.40 earnings per share. The Descartes Systems Group’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DSGX. CIBC reduced their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Scotiabank upped their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 26th. Stephens decreased their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Finally, Barclays reduced their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 5th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.40.

The Descartes Systems Group 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.