Daiwa Securities Group Inc. Reduces Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Daiwa Securities Group Inc. lessened its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,120 shares of the technology company’s stock after selling 210 shares during the period. Daiwa Securities Group Inc.’s holdings in The Descartes Systems Group were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Intact Investment Management Inc. bought a new stake in shares of The Descartes Systems Group in the second quarter worth $61,000. Blue Trust Inc. grew its stake in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden purchased a new stake in shares of The Descartes Systems Group during the 2nd quarter valued at about $77,000. Park Place Capital Corp lifted its stake in shares of The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after purchasing an additional 212 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of The Descartes Systems Group by 143.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after purchasing an additional 704 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DSGX shares. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $88.00 to $125.00 in a report on Friday, November 15th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. BMO Capital Markets lifted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $116.87 on Monday. The company has a market cap of $9.99 billion, a P/E ratio of 78.97 and a beta of 0.97. The Descartes Systems Group Inc. has a 52-week low of $79.21 and a 52-week high of $118.49. The firm’s fifty day moving average is $108.20 and its two-hundred day moving average is $101.42.

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 the consensus estimate of $0.43 by ($0.03). The firm had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. As a group, analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS 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.