Amundi Sells 7,855 Shares of The Descartes Systems Group Inc. $DSGX

Amundi lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 14.3% during the first quarter, Holdings Channel reports. The fund owned 47,187 shares of the technology company’s stock after selling 7,855 shares during the period. Amundi’s holdings in The Descartes Systems Group were worth $4,750,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DSGX. NBC Securities Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth approximately $49,000. Versant Capital Management Inc raised its position in The Descartes Systems Group by 2,013.5% in the 1st quarter. Versant Capital Management Inc now owns 1,099 shares of the technology company’s stock worth $111,000 after purchasing an additional 1,047 shares during the last quarter. Intact Investment Management Inc. bought a new position in The Descartes Systems Group in the 1st quarter worth approximately $141,000. Finally, Vident Advisory LLC bought a new position in The Descartes Systems Group in the 1st quarter worth approximately $220,000. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DSGX shares. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Barclays cut their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 5th. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada cut their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, June 5th. Finally, Morgan Stanley started coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an “equal weight” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $105.88 on Thursday. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The stock has a 50 day simple moving average of $102.76 and a 200 day simple moving average of $104.05. The firm has a market capitalization of $9.10 billion, a PE ratio of 62.65 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same period last year, the company earned $0.40 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 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.