The Descartes Systems Group Inc (NASDAQ:DSGX) Shares Sold by Praesidium Investment Management Company LLC

Praesidium Investment Management Company LLC lowered its position in shares of The Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 4.7% during the first quarter, Holdings Channel reports. The firm owned 906,276 shares of the technology company’s stock after selling 44,268 shares during the quarter. The Descartes Systems Group makes up about 2.8% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 13th largest holding. Praesidium Investment Management Company LLC’s holdings in The Descartes Systems Group were worth $55,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of DSGX. Glenmede Trust Co. NA grew its holdings in shares of The Descartes Systems Group by 2.6% during the first quarter. Glenmede Trust Co. NA now owns 11,484 shares of the technology company’s stock worth $699,000 after buying an additional 294 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of The Descartes Systems Group by 68.3% during the first quarter. Citadel Advisors LLC now owns 19,114 shares of the technology company’s stock worth $1,164,000 after buying an additional 7,754 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of The Descartes Systems Group by 7.8% during the first quarter. Gotham Asset Management LLC now owns 5,114 shares of the technology company’s stock worth $311,000 after buying an additional 371 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of The Descartes Systems Group by 2.3% during the first quarter. Royal Bank of Canada now owns 702,918 shares of the technology company’s stock worth $42,814,000 after buying an additional 15,955 shares during the last quarter. Finally, DF Dent & Co. Inc. grew its holdings in shares of The Descartes Systems Group by 8.5% during the first quarter. DF Dent & Co. Inc. now owns 154,460 shares of the technology company’s stock worth $9,408,000 after buying an additional 12,122 shares during the last quarter. Institutional investors and hedge funds own 78.68% of the company’s stock.

Shares of NASDAQ DSGX traded down $0.46 during trading on Thursday, hitting $71.02. 1,298 shares of the company traded hands, compared to its average volume of 68,575. The Descartes Systems Group Inc has a 1 year low of $50.57 and a 1 year high of $71.69. The stock has a 50-day moving average of $65.08. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 104.40 and a beta of 1.09.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Tuesday, June 1st. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The Descartes Systems Group had a net margin of 16.35% and a return on equity of 6.64%. The firm had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $94.18 million. During the same period in the prior year, the company earned $0.13 EPS. The firm’s revenue was up 18.0% on a year-over-year basis. On average, equities analysts expect that The Descartes Systems Group Inc will post 1.15 EPS for the current fiscal year.

A number of equities research analysts have weighed in on DSGX shares. Raymond James reaffirmed a “market perform” rating and issued a $84.00 price objective on shares of The Descartes Systems Group in a report on Friday, July 9th. Barclays lifted their price target on shares of The Descartes Systems Group from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, June 3rd. TD Securities lifted their price target on shares of The Descartes Systems Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, June 3rd. Stephens lifted their price target on shares of The Descartes Systems Group from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, June 3rd. Finally, Royal Bank of Canada lifted their price objective on The Descartes Systems Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, June 3rd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The Descartes Systems Group currently has a consensus rating of “Buy” and a consensus price target of $70.95.

About The Descartes Systems Group

The Descartes Systems Group, Inc engages in the provision of logistics technology solutions. It offers B2B connectivity and messaging, broker and forwarder enterprise systems, customs and regulatory compliance, ecommerce shipping and fulfillment, global trade intelligence, routing, mobile and telematics, and transportation management.

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Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

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