CW Advisors LLC Cuts Position in The Descartes Systems Group Inc. $DSGX

CW Advisors LLC trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,566 shares of the technology company’s stock after selling 22,913 shares during the period. CW Advisors LLC’s holdings in The Descartes Systems Group were worth $10,324,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of The Descartes Systems Group during the 2nd quarter valued at $117,678,000. Price T Rowe Associates Inc. MD raised its position in The Descartes Systems Group by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock valued at $719,370,000 after purchasing an additional 936,718 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of The Descartes Systems Group in the second quarter worth about $48,378,000. Granahan Investment Management LLC boosted its position in shares of The Descartes Systems Group by 715.5% in the first quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company’s stock worth $38,213,000 after buying an additional 332,508 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of The Descartes Systems Group in the first quarter valued at about $21,074,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 14.4%

Shares of NASDAQ:DSGX opened at $94.87 on Friday. The firm has a market cap of $8.16 billion, a PE ratio of 53.60 and a beta of 0.74. The company has a fifty day simple moving average of $89.29 and a 200 day simple moving average of $98.74. The Descartes Systems Group Inc. has a 12-month low of $78.88 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The company had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.76%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Barclays lowered their price target on shares of The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, TD Cowen reaffirmed a “buy” rating and set a $121.00 price target on shares of The Descartes Systems Group in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $117.55.

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.