Vontobel Holding Ltd. Lowers Stake in The Descartes Systems Group Inc. $DSGX

Vontobel Holding Ltd. cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 20.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,741 shares of the technology company’s stock after selling 9,272 shares during the period. Vontobel Holding Ltd.’s holdings in The Descartes Systems Group were worth $3,459,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DSGX. Grandeur Peak Global Advisors LLC lifted its position in The Descartes Systems Group by 41.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock worth $37,720,000 after buying an additional 108,250 shares during the last quarter. Cidel Asset Management Inc. grew its position in The Descartes Systems Group by 31.9% during the second quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock valued at $14,428,000 after acquiring an additional 34,411 shares during the last quarter. Aviva PLC raised its stake in shares of The Descartes Systems Group by 8.5% during the second quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock worth $6,130,000 after acquiring an additional 4,709 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of The Descartes Systems Group by 26.3% in the 2nd quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock worth $14,174,000 after acquiring an additional 29,012 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of The Descartes Systems Group by 2.1% in the 2nd quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock worth $400,969,000 after acquiring an additional 80,309 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $89.07 on Friday. The stock’s 50-day moving average is $87.85 and its 200 day moving average is $96.42. The company has a market cap of $7.66 billion, a PE ratio of 50.32 and a beta of 0.74. The Descartes Systems Group Inc. has a 1 year low of $78.88 and a 1 year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. During the same quarter last year, the business posted $0.42 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen reiterated a “buy” rating and issued a $121.00 target price on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday. Morgan Stanley increased their target price on The Descartes Systems Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, December 9th. BMO Capital Markets decreased their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research note on Thursday, December 4th. Finally, Scotiabank lowered their price objective on The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $116.30.

About The Descartes Systems Group

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.