Reynders McVeigh Capital Management LLC Has $272,000 Stake in Descartes Systems Group Inc (NASDAQ:DSGX)

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Reynders McVeigh Capital Management LLC decreased its stake in shares of Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 9.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,350 shares of the technology company’s stock after selling 745 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Descartes Systems Group were worth $272,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of DSGX. Conestoga Capital Advisors LLC grew its stake in shares of Descartes Systems Group by 2.6% during the second quarter. Conestoga Capital Advisors LLC now owns 3,539,198 shares of the technology company’s stock worth $130,773,000 after purchasing an additional 89,725 shares during the period. Swiss National Bank grew its position in shares of Descartes Systems Group by 2.5% in the second quarter. Swiss National Bank now owns 144,600 shares of the technology company’s stock valued at $5,349,000 after purchasing an additional 3,500 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Descartes Systems Group by 28.6% in the second quarter. Envestnet Asset Management Inc. now owns 32,795 shares of the technology company’s stock valued at $1,212,000 after purchasing an additional 7,302 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Descartes Systems Group by 43.6% in the second quarter. TD Asset Management Inc. now owns 675,666 shares of the technology company’s stock valued at $25,041,000 after purchasing an additional 205,271 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Descartes Systems Group by 6.1% in the second quarter. Janus Henderson Group PLC now owns 2,467,191 shares of the technology company’s stock valued at $91,334,000 after purchasing an additional 140,860 shares during the last quarter. 74.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of DSGX stock traded down $0.54 during trading on Friday, hitting $35.02. The company had a trading volume of 95,033 shares, compared to its average volume of 84,419. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $2.99 billion, a P/E ratio of 87.55 and a beta of 0.67. The stock’s 50-day moving average price is $36.08 and its 200 day moving average price is $36.85. Descartes Systems Group Inc has a one year low of $25.19 and a one year high of $41.60.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.05). The company had revenue of $78.00 million during the quarter, compared to the consensus estimate of $78.60 million. Descartes Systems Group had a net margin of 11.05% and a return on equity of 5.96%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. On average, research analysts anticipate that Descartes Systems Group Inc will post 0.35 earnings per share for the current fiscal year.

Several research firms have recently commented on DSGX. ValuEngine downgraded Descartes Systems Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Stephens began coverage on Descartes Systems Group in a research report on Monday, July 1st. They issued an “equal weight” rating and a $40.00 target price on the stock. Raymond James upped their target price on Descartes Systems Group from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, May 30th. TD Securities began coverage on Descartes Systems Group in a research report on Tuesday, June 11th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $43.00 target price on shares of Descartes Systems Group in a research report on Thursday, May 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $42.88.

About Descartes Systems Group

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

Further Reading: What is Call Option Volume?

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Institutional Ownership by Quarter for Descartes Systems Group (NASDAQ:DSGX)

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