The Descartes Systems Group Inc. (NASDAQ:DSGX) is Summit Creek Advisors LLC’s 2nd Largest Position

Summit Creek Advisors LLC trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,254 shares of the technology company’s stock after selling 57,736 shares during the quarter. The Descartes Systems Group accounts for approximately 3.4% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Summit Creek Advisors LLC’s holdings in The Descartes Systems Group were worth $25,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of DSGX. Brown Brothers Harriman & Co. purchased a new stake in shares of The Descartes Systems Group during the fourth quarter valued at $27,000. Central Pacific Bank Trust Division purchased a new stake in shares of The Descartes Systems Group during the first quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in shares of The Descartes Systems Group during the fourth quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of The Descartes Systems Group by 703.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after purchasing an additional 429 shares during the period. Finally, Park Place Capital Corp lifted its stake in The Descartes Systems Group by 48.5% in the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after acquiring an additional 219 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Down 3.5 %

Shares of NASDAQ DSGX opened at $95.33 on Friday. The Descartes Systems Group Inc. has a twelve month low of $69.59 and a twelve month high of $104.71. The stock has a 50 day moving average of $99.09 and a two-hundred day moving average of $94.97. The stock has a market cap of $8.14 billion, a P/E ratio of 68.09 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The firm had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The Descartes Systems Group’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current year.

Analyst Ratings Changes

DSGX has been the subject of a number of research reports. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday. Stephens upped their price objective on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. TD Securities increased their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Scotiabank increased their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research note on Friday, May 31st. Finally, Raymond James raised their target price on The Descartes Systems Group from $94.00 to $96.00 and gave the stock a “market perform” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.00.

The Descartes Systems Group Company 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.