The Descartes Systems Group Inc. (NASDAQ:DSGX) Position Lowered by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,331 shares of the technology company’s stock after selling 218 shares during the quarter. Raymond James Trust N.A.’s holdings in The Descartes Systems Group were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Intact Investment Management Inc. bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $61,000. Blue Trust Inc. raised its holdings 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 worth $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden bought a new position in shares of The Descartes Systems Group in the 2nd quarter worth about $77,000. Park Place Capital Corp grew its position in shares of The Descartes Systems Group by 31.6% during the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after buying an additional 212 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after acquiring an additional 704 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. BMO Capital Markets boosted their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a report on Thursday, September 5th. Scotiabank increased their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.25.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $117.10 on Wednesday. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $117.95. The stock has a fifty day moving average price of $106.96 and a two-hundred day moving average price of $100.87. The firm has a market cap of $10.01 billion, a P/E ratio of 79.12 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released 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 firm had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The Descartes Systems Group’s revenue was up 14.0% on a year-over-year basis. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal 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.