The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,394 shares of the technology company’s stock after selling 1,141 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in The Descartes Systems Group were worth $1,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DSGX. Central Pacific Bank Trust Division purchased a new position in The Descartes Systems Group in the first quarter valued at about $28,000. Brown Brothers Harriman & Co. purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $27,000. Accent Capital Management LLC purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after purchasing an additional 429 shares during the last quarter. Finally, Park Place Capital Corp boosted its holdings in The Descartes Systems Group by 48.5% in the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 0.7 %

The Descartes Systems Group stock traded up $0.67 during trading hours on Monday, reaching $100.08. 201,364 shares of the company were exchanged, compared to its average volume of 165,217. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $104.71. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 70.99 and a beta of 0.98. The stock has a 50-day moving average of $96.79 and a 200 day moving average of $92.14.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The company had revenue of $151.30 million for the quarter, compared to analyst estimates of $151.80 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Scotiabank increased their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 31st. BMO Capital Markets boosted their price target on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday, May 30th. William Blair reissued an “outperform” rating on shares of The Descartes Systems Group in a report on Monday, April 1st. Royal Bank of Canada boosted their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Raymond James boosted their price target on shares of The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

The Descartes Systems Group Company 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.