Commerce Bank Sells 595 Shares of The Descartes Systems Group Inc (NASDAQ:DSGX)

Commerce Bank trimmed its stake in The Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,765 shares of the technology company’s stock after selling 595 shares during the period. Commerce Bank’s holdings in The Descartes Systems Group were worth $631,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its position in The Descartes Systems Group by 18.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,400 shares of the technology company’s stock valued at $1,134,000 after acquiring an additional 2,500 shares during the period. Conestoga Capital Advisors LLC grew its position in The Descartes Systems Group by 1.1% in the third quarter. Conestoga Capital Advisors LLC now owns 3,063,297 shares of the technology company’s stock valued at $248,924,000 after acquiring an additional 33,920 shares during the period. Border to Coast Pensions Partnership Ltd bought a new stake in shares of The Descartes Systems Group during the second quarter worth $12,412,848,000. Bank of Montreal Can grew its holdings in shares of The Descartes Systems Group by 4.3% during the second quarter. Bank of Montreal Can now owns 5,239,062 shares of the technology company’s stock worth $368,935,000 after purchasing an additional 215,779 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in shares of The Descartes Systems Group by 37.0% during the second quarter. Advisor Group Holdings Inc. now owns 7,208 shares of the technology company’s stock worth $498,000 after purchasing an additional 1,945 shares during the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.

NASDAQ:DSGX opened at $70.38 on Friday. The Descartes Systems Group Inc has a 1-year low of $56.78 and a 1-year high of $91.39. The business’s 50-day moving average price is $80.63 and its two-hundred day moving average price is $78.44. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 71.82 and a beta of 1.01.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Tuesday, November 30th. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The Descartes Systems Group had a return on equity of 8.85% and a net margin of 20.77%. The firm had revenue of $108.91 million for the quarter, compared to analyst estimates of $106.40 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. As a group, sell-side analysts expect that The Descartes Systems Group Inc will post 1.01 EPS for the current year.

Several analysts have recently commented on the company. Barclays decreased their target price on The Descartes Systems Group from $90.00 to $80.00 in a report on Wednesday. Raymond James increased their target price on The Descartes Systems Group from $80.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday, December 2nd. Zacks Investment Research upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Friday, December 3rd. Finally, Royal Bank of Canada increased their target price on The Descartes Systems Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, November 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $87.83.

The Descartes Systems Group Profile

The Descartes Systems Group, Inc engages in the provision of logistics technology solutions. It offers B2B connectivity and messaging, broker and forwarder enterprise systems, customs and regulatory compliance, ecommerce shipping and fulfillment, global trade intelligence, routing, mobile and telematics, and transportation management.

Recommended Story: What is a put option?

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

Receive News & Ratings for The Descartes Systems Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Descartes Systems Group and related companies with MarketBeat.com's FREE daily email newsletter.