The Descartes Systems Group Inc. $DSGX Stock Position Trimmed by Bank of Nova Scotia

Bank of Nova Scotia decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 430,565 shares of the technology company’s stock after selling 29,411 shares during the period. Bank of Nova Scotia’s holdings in The Descartes Systems Group were worth $43,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its position in shares of The Descartes Systems Group by 77.0% during the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock worth $58,000 after buying an additional 248 shares during the period. Parallel Advisors LLC increased its position in The Descartes Systems Group by 35.1% in the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock valued at $59,000 after acquiring an additional 152 shares during the period. GAMMA Investing LLC raised its stake in The Descartes Systems Group by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after acquiring an additional 117 shares in the last quarter. Employees Retirement System of Texas bought a new stake in The Descartes Systems Group during the 2nd quarter valued at $68,000. Finally, Federated Hermes Inc. boosted its position in The Descartes Systems Group by 25.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock worth $127,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on DSGX. Barclays lowered their price target on The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating on the stock in a report on Thursday, December 4th. Scotiabank lowered their target price on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 4th. TD Cowen restated a “buy” rating and set a $121.00 price target on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Morgan Stanley decreased their price objective on shares of The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, November 20th. Finally, BMO Capital Markets dropped their target price on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average target price of $117.55.

The Descartes Systems Group Stock Down 0.4%

Shares of NASDAQ DSGX opened at $92.39 on Tuesday. The stock’s fifty day simple moving average is $89.19 and its 200 day simple moving average is $98.24. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 52.20 and a beta of 0.74. The Descartes Systems Group Inc. has a 52-week low of $78.88 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm 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 10.57%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

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.