The Descartes Systems Group Inc. $DSGX Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 444,774 shares of the technology company’s stock after selling 33,370 shares during the period. Picton Mahoney Asset Management owned approximately 0.52% of The Descartes Systems Group worth $41,871,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. boosted its stake in The Descartes Systems Group by 77.0% during the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after buying an additional 248 shares in the last quarter. Versant Capital Management Inc grew its holdings in The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after acquiring an additional 131 shares during the period. Employees Retirement System of Texas acquired a new position in The Descartes Systems Group during the second quarter worth about $68,000. Finally, GAMMA Investing LLC raised its position in The Descartes Systems Group by 42.1% in the third quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after acquiring an additional 262 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $69.69 on Wednesday. The company has a market cap of $5.99 billion, a PE ratio of 39.37 and a beta of 0.77. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35. The firm has a 50 day simple moving average of $77.03 and a 200 day simple moving average of $87.59.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. During the same period in the previous year, the company posted $0.42 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DSGX shares. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. BMO Capital Markets reduced their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Finally, Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $106.00 to $105.00 in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $114.20.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.