The Descartes Systems Group Inc. $DSGX is Conestoga Capital Advisors LLC’s 9th Largest Position

Conestoga Capital Advisors LLC trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.8% in the 1st quarter, HoldingsChannel reports. The firm owned 2,111,320 shares of the technology company’s stock after selling 397,249 shares during the quarter. The Descartes Systems Group accounts for 3.0% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 9th biggest position. Conestoga Capital Advisors LLC’s holdings in The Descartes Systems Group were worth $151,086,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Crown Oak Advisors LLC raised its stake in The Descartes Systems Group by 5.4% in the first quarter. Crown Oak Advisors LLC now owns 45,912 shares of the technology company’s stock worth $3,285,000 after buying an additional 2,353 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in The Descartes Systems Group during the 1st quarter valued at approximately $8,671,000. Louisbourg Investments Inc. grew its holdings in shares of The Descartes Systems Group by 10.9% during the 1st quarter. Louisbourg Investments Inc. now owns 79,704 shares of the technology company’s stock worth $5,697,000 after acquiring an additional 7,841 shares during the period. Value Partners Investments Inc. grew its holdings in shares of The Descartes Systems Group by 6.7% during the 1st quarter. Value Partners Investments Inc. now owns 6,758 shares of the technology company’s stock worth $483,000 after acquiring an additional 423 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new position in shares of The Descartes Systems Group in the 1st quarter worth approximately $491,000. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James Financial lowered their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. Canaccord Genuity Group decreased their price objective on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Canadian Imperial Bank of Commerce raised their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Finally, BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average price target of $103.17.

The Descartes Systems Group Stock Performance

DSGX stock opened at $70.94 on Thursday. The firm has a 50 day moving average price of $71.49 and a 200-day moving average price of $74.32. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 35.47 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

The Descartes Systems Group Profile

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.