The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 20.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,149 shares of the technology company’s stock after selling 1,569 shares during the quarter. Mediolanum International Funds Ltd’s holdings in The Descartes Systems Group were worth $628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Argent Capital Management LLC increased its position in shares of The Descartes Systems Group by 7.7% during the 3rd quarter. Argent Capital Management LLC now owns 50,681 shares of the technology company’s stock worth $5,218,000 after purchasing an additional 3,622 shares during the last quarter. Signaturefd LLC increased its position in shares of The Descartes Systems Group by 12.1% during the 3rd quarter. Signaturefd LLC now owns 2,425 shares of the technology company’s stock worth $250,000 after purchasing an additional 261 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of The Descartes Systems Group by 26.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company’s stock worth $156,000 after purchasing an additional 320 shares during the last quarter. Whittier Trust Co. increased its position in shares of The Descartes Systems Group by 8.2% during the 3rd quarter. Whittier Trust Co. now owns 9,216 shares of the technology company’s stock worth $949,000 after purchasing an additional 701 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on DSGX shares. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Scotiabank lifted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday. Finally, National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.17.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $104.17 on Monday. The stock has a 50-day simple moving average of $101.64 and a 200-day simple moving average of $98.16. The stock has a market capitalization of $8.89 billion, a PE ratio of 74.41 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $108.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The Descartes Systems Group’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Analysts predict that The Descartes Systems Group Inc. will post 1.69 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.