Commerce Bank Reduces Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Commerce Bank reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,077 shares of the technology company’s stock after selling 730 shares during the quarter. Commerce Bank’s holdings in The Descartes Systems Group were worth $729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ellsworth Advisors LLC bought a new stake in The Descartes Systems Group during the second quarter valued at approximately $527,000. Plato Investment Management Ltd bought a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at $2,308,000. Vanguard Group Inc. increased its stake in shares of The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after purchasing an additional 40,897 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in The Descartes Systems Group by 6.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 97,129 shares of the technology company’s stock worth $8,890,000 after purchasing an additional 6,070 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in The Descartes Systems Group by 8.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock valued at $57,514,000 after purchasing an additional 47,481 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 1.0 %

Shares of The Descartes Systems Group stock opened at $117.25 on Tuesday. The Descartes Systems Group Inc. has a 12 month low of $79.21 and a 12 month high of $117.95. The stock has a 50 day moving average of $106.61 and a 200 day moving average of $100.73. The firm has a market cap of $10.02 billion, a PE ratio of 79.22 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results 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 business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. 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 business posted $0.32 earnings per share. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of analyst reports. 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. Scotiabank raised their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Finally, National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

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.