Janus Henderson Group PLC Sells 25,437 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Janus Henderson Group PLC lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 688,766 shares of the technology company’s stock after selling 25,437 shares during the quarter. Janus Henderson Group PLC’s holdings in The Descartes Systems Group were worth $63,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc grew its position in shares of The Descartes Systems Group by 10.5% during the fourth quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock worth $65,201,000 after purchasing an additional 73,410 shares in the last quarter. Bessemer Group Inc. grew its holdings in The Descartes Systems Group by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after buying an additional 11,025 shares in the last quarter. Quadrature Capital Ltd grew its holdings in The Descartes Systems Group by 13.6% during the 4th quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after buying an additional 18,700 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in The Descartes Systems Group by 3.4% during the 1st quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock valued at $24,043,000 after buying an additional 8,722 shares in the last quarter. Finally, Zeno Equity Partners LLP purchased a new position in The Descartes Systems Group during the 4th quarter valued at approximately $11,108,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

NASDAQ DSGX traded down $0.16 on Tuesday, reaching $100.65. 244,589 shares of the stock traded hands, compared to its average volume of 163,080. The company has a fifty day moving average price of $97.09 and a 200-day moving average price of $92.93. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 71.89 and a beta of 0.98. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $104.71.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The firm had revenue of $151.30 million for the quarter, compared to the consensus estimate of $151.80 million. The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DSGX shares. Scotiabank raised their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. Redburn Atlantic initiated coverage on The Descartes Systems Group in a research note on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price objective for the company. BMO Capital Markets raised their price objective on The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Thursday, May 30th. Barclays raised their price objective on The Descartes Systems Group from $75.00 to $87.00 and gave the company an “underweight” rating in a research note on Friday, May 17th. Finally, Raymond James raised their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

The Descartes Systems Group Profile

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.