The Descartes Systems Group Inc. $DSGX Shares Sold by Korea Investment CORP

Korea Investment CORP cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 55.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,601 shares of the technology company’s stock after selling 24,500 shares during the period. Korea Investment CORP’s holdings in The Descartes Systems Group were worth $1,987,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DSGX. American Century Companies Inc. grew its stake in The Descartes Systems Group by 5.9% during the 1st quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock worth $22,543,000 after buying an additional 12,571 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of The Descartes Systems Group by 31.9% in the second quarter. Cidel Asset Management Inc. now owns 142,322 shares of the technology company’s stock valued at $14,428,000 after acquiring an additional 34,411 shares during the period. Aviva PLC grew its position in shares of The Descartes Systems Group by 8.5% during the second quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock worth $6,130,000 after acquiring an additional 4,709 shares during the last quarter. Andra AP fonden acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at $823,000. Finally, AGF Management Ltd. grew its stake in shares of The Descartes Systems Group by 26.3% in the 2nd quarter. AGF Management Ltd. now owns 139,529 shares of the technology company’s stock valued at $14,174,000 after purchasing an additional 29,012 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several recent research reports. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday. 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. CIBC lowered their target price on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, TD Securities assumed coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $121.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.70.

The Descartes Systems Group Stock Up 0.7%

NASDAQ:DSGX opened at $82.51 on Wednesday. The firm’s fifty day simple moving average is $89.62 and its 200-day simple moving average is $98.88. The stock has a market cap of $7.10 billion, a PE ratio of 48.82 and a beta of 0.74. The Descartes Systems Group Inc. has a fifty-two week low of $78.88 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 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 analysts’ expectations of $176.51 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.