Fred Alger Management LLC Sells 69,660 Shares of The Descartes Systems Group Inc. $DSGX

Fred Alger Management LLC trimmed its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 93.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,858 shares of the technology company’s stock after selling 69,660 shares during the quarter. Fred Alger Management LLC’s holdings in The Descartes Systems Group were worth $490,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Wealth Alliance LLC lifted its position in shares of The Descartes Systems Group by 5.4% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company’s stock valued at $232,000 after acquiring an additional 118 shares during the period. Alliance Wealth Advisors LLC UT lifted its position in shares of The Descartes Systems Group by 4.7% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 3,464 shares of the technology company’s stock worth $349,000 after buying an additional 154 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its position in shares of The Descartes Systems Group by 0.4% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company’s stock worth $4,282,000 after buying an additional 155 shares during the last quarter. Shell Asset Management Co. lifted 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 buying an additional 172 shares during the last quarter. Finally, Vista Finance LLC lifted its position in shares of The Descartes Systems Group by 7.0% during the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company’s stock worth $314,000 after buying an additional 203 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Down 1.0%

Shares of DSGX opened at $105.88 on Thursday. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The stock has a market cap of $9.10 billion, a PE ratio of 62.65 and a beta of 0.80. The business has a 50-day simple moving average of $102.76 and a two-hundred day simple moving average of $104.05.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) 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 company had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same quarter last year, the business earned $0.40 earnings per share. The Descartes Systems Group’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on DSGX. Barclays dropped their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, June 5th. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an “equal weight” rating and a $110.00 target price for the company. Wall Street Zen raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada lowered their target price on 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

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.