The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) by 18.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,900 shares of the technology company’s stock after selling 1,328 shares during the period. Pictet Asset Management SA’s holdings in The Descartes Systems Group were worth $366,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Lazard Asset Management LLC boosted its holdings in shares of The Descartes Systems Group by 115.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,055 shares of the technology company’s stock valued at $127,000 after buying an additional 1,102 shares during the period. Baird Financial Group Inc. boosted its stake in The Descartes Systems Group by 4.6% during the 2nd quarter. Baird Financial Group Inc. now owns 51,541 shares of the technology company’s stock valued at $3,199,000 after purchasing an additional 2,253 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in The Descartes Systems Group by 4.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,642 shares of the technology company’s stock valued at $722,000 after purchasing an additional 457 shares during the period. Bank of Nova Scotia boosted its stake in The Descartes Systems Group by 10.1% during the 2nd quarter. Bank of Nova Scotia now owns 294,142 shares of the technology company’s stock valued at $18,278,000 after purchasing an additional 26,907 shares during the period. Finally, Reynders McVeigh Capital Management LLC boosted its stake in The Descartes Systems Group by 25.2% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 29,795 shares of the technology company’s stock valued at $1,849,000 after purchasing an additional 6,005 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 0.9 %

Shares of NASDAQ:DSGX opened at $69.23 on Thursday. The company has a 50 day moving average of $67.27 and a 200-day moving average of $65.93. The firm has a market cap of $5.87 billion, a P/E ratio of 65.31 and a beta of 1.03. The Descartes Systems Group Inc. has a twelve month low of $56.19 and a twelve month high of $84.34.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last released its earnings results on Wednesday, September 7th. The technology company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $118.72 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.08 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays lowered shares of The Descartes Systems Group from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $72.00 to $60.00 in a research note on Tuesday, October 18th. Wolfe Research lowered shares of The Descartes Systems Group from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. Canaccord Genuity Group boosted their target price on shares of The Descartes Systems Group from $74.00 to $77.00 in a research note on Thursday, September 8th. TD Securities boosted their target price on shares of 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. Finally, StockNews.com began coverage on shares of The Descartes Systems Group in a research note on Wednesday, October 12th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.89.

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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Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

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