Thrivent Financial for Lutherans Decreases Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Thrivent Financial for Lutherans lowered its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,787 shares of the technology company’s stock after selling 7,342 shares during the period. Thrivent Financial for Lutherans owned 0.28% of The Descartes Systems Group worth $23,414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Assetmark Inc. lifted its stake in The Descartes Systems Group by 640.9% during the fourth quarter. Assetmark Inc. now owns 4,816 shares of the technology company’s stock worth $405,000 after purchasing an additional 4,166 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of The Descartes Systems Group by 447.2% during the 4th quarter. Hsbc Holdings PLC now owns 71,915 shares of the technology company’s stock worth $6,037,000 after buying an additional 58,773 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of The Descartes Systems Group by 10.5% in the 4th quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock valued at $65,201,000 after buying an additional 73,410 shares in the last quarter. Bank of Nova Scotia Trust Co. grew its position in shares of The Descartes Systems Group by 0.3% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock valued at $4,332,000 after buying an additional 173 shares during the last quarter. Finally, Scotia Capital Inc. raised its stake in The Descartes Systems Group by 6.8% during the 4th quarter. Scotia Capital Inc. now owns 34,715 shares of the technology company’s stock worth $2,901,000 after acquiring an additional 2,222 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 1.0 %

Shares of The Descartes Systems Group stock opened at $103.55 on Tuesday. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 73.96 and a beta of 0.98. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $104.71. The company’s 50-day simple moving average is $98.98 and its 200-day simple moving average is $96.10.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same period last year, the company posted $0.32 earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. TD Securities raised their price objective on The Descartes Systems Group from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. BMO Capital Markets lifted their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Scotiabank raised their target price on shares of 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. Finally, Barclays increased their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.00.

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.