Envestnet Asset Management Inc. Trims Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Envestnet Asset Management Inc. cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.4% during the first quarter, HoldingsChannel.com reports. The fund owned 241,461 shares of the technology company’s stock after selling 966 shares during the quarter. Envestnet Asset Management Inc.’s holdings in The Descartes Systems Group were worth $24,346,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DSGX. EverSource Wealth Advisors LLC lifted its position in The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock valued at $96,000 after purchasing an additional 108 shares during the period. GeoWealth Management LLC raised its position in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Shell Asset Management Co. raised its position in shares of The Descartes Systems Group by 1.8% during the 4th quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company’s stock worth $1,104,000 after purchasing an additional 172 shares during the last quarter. Vista Finance LLC raised its holdings in The Descartes Systems Group by 7.0% in the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company’s stock valued at $314,000 after acquiring an additional 203 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. raised its holdings in The Descartes Systems Group by 1.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock valued at $2,677,000 after acquiring an additional 222 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stephens cut their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Royal Bank Of Canada cut their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, June 5th. Scotiabank raised their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a report on Monday. They set an “equal weight” rating and a $110.00 price target for the company. Finally, Barclays cut their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group Stock Down 0.3%

NASDAQ DSGX opened at $102.30 on Wednesday. The Descartes Systems Group Inc. has a 12-month low of $90.61 and a 12-month high of $124.31. The firm’s 50 day moving average is $106.25 and its 200-day moving average is $107.64. The company has a market capitalization of $8.78 billion, a PE ratio of 61.63 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The business had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same period in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.