The Descartes Systems Group Inc. $DSGX is Conestoga Capital Advisors LLC’s 9th Largest Position

Conestoga Capital Advisors LLC trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,111,320 shares of the technology company’s stock after selling 397,249 shares during the period. The Descartes Systems Group comprises 3.0% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 9th largest position. Conestoga Capital Advisors LLC owned 2.45% of The Descartes Systems Group worth $151,086,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC raised its stake in shares of The Descartes Systems Group by 25.2% during the fourth quarter. Clearbridge Investments LLC now owns 403,854 shares of the technology company’s stock worth $35,402,000 after acquiring an additional 81,354 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at $1,954,000. Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of The Descartes Systems Group by 303.0% during the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 339,370 shares of the technology company’s stock valued at $31,961,000 after purchasing an additional 255,154 shares during the last quarter. Temasek Holdings Private Ltd grew its holdings in shares of The Descartes Systems Group by 63.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock valued at $137,968,000 after purchasing an additional 567,386 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in The Descartes Systems Group in the 3rd quarter worth $15,602,000. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DSGX. Loop Capital reaffirmed a “buy” rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. Raymond James Financial lowered their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their target price for the company from $100.00 to $90.00 in a report on Thursday, April 16th. BMO Capital Markets lowered their price objective on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a research report on Thursday, March 12th. Finally, Morgan Stanley cut their target price on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.17.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $70.94 on Thursday. The stock’s 50-day moving average is $71.49 and its 200 day moving average is $74.32. The company has a market cap of $6.08 billion, a PE ratio of 35.47 and a beta of 0.64. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.