Summit Creek Advisors LLC Has $25.01 Million Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Summit Creek Advisors LLC trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,254 shares of the technology company’s stock after selling 57,736 shares during the quarter. The Descartes Systems Group makes up about 3.4% of Summit Creek Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Summit Creek Advisors LLC owned 0.30% of The Descartes Systems Group worth $25,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after acquiring an additional 278,796 shares during the period. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after purchasing an additional 40,897 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in The Descartes Systems Group by 2.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock worth $301,764,000 after purchasing an additional 66,645 shares during the last quarter. Fiera Capital Corp lifted its holdings in The Descartes Systems Group by 3.3% during the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock worth $248,024,000 after purchasing an additional 81,263 shares during the last quarter. Finally, Norges Bank acquired a new stake in The Descartes Systems Group during the 4th quarter worth approximately $92,571,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Down 3.5 %

Shares of DSGX opened at $95.33 on Friday. The Descartes Systems Group Inc. has a twelve month low of $69.59 and a twelve month high of $104.71. The stock has a market capitalization of $8.14 billion, a P/E ratio of 68.09 and a beta of 0.98. The firm has a fifty day simple moving average of $99.09 and a two-hundred day simple moving average of $94.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Sell-side analysts expect that The Descartes Systems Group Inc. will post 1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DSGX shares. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday. Stephens lifted their price target on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday. Barclays upped their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, CIBC boosted their price target on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.00.

About The Descartes Systems Group

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.