The Descartes Systems Group Inc. $DSGX Stock Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 33.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,246,517 shares of the technology company’s stock after selling 618,334 shares during the period. The Descartes Systems Group comprises 3.1% of Conestoga Capital Advisors LLC’s holdings, making the stock its 11th largest holding. Conestoga Capital Advisors LLC’s holdings in The Descartes Systems Group were worth $100,793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DSGX. Versant Capital Management Inc increased its position in The Descartes Systems Group by 9.6% during the 3rd quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company’s stock valued at $119,000 after buying an additional 129 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in The Descartes Systems Group by 20.2% in the third quarter. SBI Securities Co. Ltd. now owns 969 shares of the technology company’s stock valued at $78,000 after buying an additional 163 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in The Descartes Systems Group by 57.5% in the first quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Parallel Advisors LLC boosted its holdings in The Descartes Systems Group by 124.7% in the first quarter. Parallel Advisors LLC now owns 755 shares of the technology company’s stock worth $54,000 after acquiring an additional 419 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in The Descartes Systems Group in the second quarter worth about $33,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DSGX shares. National Bank Financial upped their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, September 14th. BMO Capital Markets lifted their target price on shares of The Descartes Systems Group from $82.00 to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 13th. Weiss Ratings raised shares of The Descartes Systems Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 21st. Scotiabank upped their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research note on Friday, September 11th. Finally, Scotia upped their price target on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a “sector outperform” rating in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.33.

The Descartes Systems Group Stock Up 3.9%

DSGX stock opened at $94.74 on Thursday. The stock has a market capitalization of $8.10 billion, a P/E ratio of 42.60 and a beta of 0.65. The firm has a 50-day simple moving average of $83.17 and a 200-day simple moving average of $74.93. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $95.41.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Thursday, September 10th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $198.12 million during the quarter, compared to analysts’ expectations of $197.54 million. The Descartes Systems Group had a net margin of 24.25% and a return on equity of 11.66%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. On average, analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc is a technology company that provides cloud-based logistics and supply chain management solutions. Its software helps businesses manage and automate transportation, logistics, trade compliance, communications and related processes across complex supply chains.

Descartes’ products and services include shipment management, transportation routing and scheduling, fleet and telematics applications, customs and regulatory compliance, electronic invoicing, supply chain visibility, order and inventory management, and logistics messaging.