Zurcher Kantonalbank Zurich Cantonalbank cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,505 shares of the technology company's stock after selling 859 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in The Descartes Systems Group were worth $651,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sageworth Trust Co of South Dakota grew its stake in The Descartes Systems Group by 140.6% in the second quarter. Sageworth Trust Co of South Dakota now owns 450 shares of the technology company's stock valued at $28,000 after purchasing an additional 263 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of The Descartes Systems Group by 8,814.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 624 shares of the technology company's stock valued at $38,000 after buying an additional 617 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $53,000. Lazard Asset Management LLC increased its holdings in The Descartes Systems Group by 115.6% in the second quarter. Lazard Asset Management LLC now owns 2,055 shares of the technology company's stock worth $127,000 after buying an additional 1,102 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in The Descartes Systems Group by 7.2% during the second quarter. Van ECK Associates Corp now owns 2,217 shares of the technology company's stock valued at $138,000 after acquiring an additional 149 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.
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The Descartes Systems Group Price Performance
Shares of The Descartes Systems Group stock opened at $66.44 on Friday. The company has a market cap of $5.64 billion, a PE ratio of 62.68 and a beta of 1.03. The firm has a fifty day moving average price of $67.98 and a two-hundred day moving average price of $66.61. The Descartes Systems Group Inc. has a fifty-two week low of $56.19 and a fifty-two week high of $83.65.
The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last released its earnings results on Wednesday, September 7th. The technology company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The Descartes Systems Group had a net
margin of 19.69% and a return on equity of 8.97%. The business had revenue of $123.01 million during the quarter, compared to analysts' expectations of $118.72 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm's revenue was up 17.6% on a year-over-year basis. Analysts expect that The Descartes Systems Group Inc. will post 1.08 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Barclays cut their price target on shares of The Descartes Systems Group from $60.00 to $58.00 and set an "underweight" rating on the stock in a report on Thursday. TD Securities raised their price objective on The Descartes Systems Group from $84.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, September 8th. Canaccord Genuity Group upped their target price on The Descartes Systems Group from $74.00 to $77.00 in a research report on Thursday, September 8th. BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $74.00 to $71.00 in a research report on Thursday. Finally, Canaccord Genuity Group upped their price objective on shares of The Descartes Systems Group from $74.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $75.56.
The Descartes Systems Group Profile
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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.
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