Raymond James & Associates Sells 5,249 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Raymond James & Associates lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,698 shares of the technology company’s stock after selling 5,249 shares during the quarter. Raymond James & Associates owned approximately 0.12% of The Descartes Systems Group worth $10,162,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DSGX. Blue Trust Inc. raised its stake in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after acquiring an additional 587 shares during the last quarter. Ellsworth Advisors LLC increased its holdings in The Descartes Systems Group by 5.7% during the 3rd quarter. Ellsworth Advisors LLC now owns 5,748 shares of the technology company’s stock valued at $592,000 after purchasing an additional 308 shares during the period. Vontobel Holding Ltd. raised its position in The Descartes Systems Group by 52.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 210,280 shares of the technology company’s stock valued at $21,636,000 after purchasing an additional 72,435 shares during the last quarter. Creative Planning lifted its holdings in The Descartes Systems Group by 33.5% in the 3rd quarter. Creative Planning now owns 17,036 shares of the technology company’s stock worth $1,754,000 after buying an additional 4,274 shares during the period. Finally, Next Level Private LLC bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $206,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Scotiabank upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Barclays boosted their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research report on Thursday, September 5th. Finally, BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.17.

The Descartes Systems Group Stock Performance

DSGX stock opened at $105.53 on Tuesday. The firm has a 50 day moving average price of $101.64 and a 200-day moving average price of $98.16. The Descartes Systems Group Inc. has a 52-week low of $70.04 and a 52-week high of $108.02. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 75.38 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data 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 net margin of 21.02% and a return on equity of 10.21%. 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 firm posted $0.32 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.