Addenda Capital Inc. Sells 10,194 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Addenda Capital Inc. decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.3% during the first quarter, HoldingsChannel.com reports. The fund owned 226,190 shares of the technology company’s stock after selling 10,194 shares during the quarter. Addenda Capital Inc.’s holdings in The Descartes Systems Group were worth $20,703,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in The Descartes Systems Group in the fourth quarter worth about $27,000. Accent Capital Management LLC purchased a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $32,000. Operose Advisors LLC bought a new position in shares of The Descartes Systems Group during the 3rd quarter valued at approximately $35,000. Federated Hermes Inc. purchased a new stake in The Descartes Systems Group during the 3rd quarter valued at $64,000. Finally, Signaturefd LLC lifted its position in The Descartes Systems Group by 45.6% in the fourth quarter. Signaturefd LLC now owns 1,015 shares of the technology company’s stock worth $85,000 after buying an additional 318 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

DSGX traded down $0.45 during trading on Friday, hitting $96.84. 111,066 shares of the stock were exchanged, compared to its average volume of 168,358. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $100.69. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 69.17 and a beta of 0.93. The firm has a 50 day simple moving average of $95.37 and a 200 day simple moving average of $90.29.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The firm had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $151.80 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

DSGX has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Thursday, May 30th. Redburn Atlantic began coverage on shares of The Descartes Systems Group in a research report on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. William Blair restated an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Royal Bank of Canada increased their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Finally, Barclays boosted their price objective on The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

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.