TD Asset Management Inc Lowers Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

TD Asset Management Inc trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,280 shares of the technology company’s stock after selling 28,152 shares during the period. TD Asset Management Inc owned about 0.93% of The Descartes Systems Group worth $76,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in The Descartes Systems Group during the fourth quarter valued at about $92,571,000. Westfield Capital Management Co. LP bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at about $47,481,000. Clearbridge Investments LLC purchased a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $36,767,000. Price T Rowe Associates Inc. MD raised 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 in the last quarter. Finally, Riverbridge Partners LLC lifted its position in The Descartes Systems Group by 36.6% during the first quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock valued at $89,389,000 after acquiring an additional 261,688 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DSGX shares. Raymond James upped their price target on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research report on Friday, May 31st. BMO Capital Markets increased their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday. TD Securities boosted their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. Finally, Stephens boosted their target price on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $94.62 on Friday. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $104.71. The stock has a market cap of $8.08 billion, a PE ratio of 67.59 and a beta of 0.98. The firm has a fifty day moving average price of $99.05 and a 200 day moving average price of $95.03.

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 for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $160.17 million. During the same quarter in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts expect that The Descartes Systems Group Inc. will post 1.7 EPS for the current year.

The Descartes Systems Group 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.