The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 36.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,281 shares of the technology company’s stock after selling 747 shares during the quarter. Icon Wealth Advisors LLC’s holdings in The Descartes Systems Group were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of The Descartes Systems Group by 2.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after purchasing an additional 9,768 shares during the period. Intech Investment Management LLC raised its position in shares of The Descartes Systems Group by 41.6% during the third quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock worth $1,099,000 after purchasing an additional 3,134 shares during the period. PCJ Investment Counsel Ltd. raised its position in shares of The Descartes Systems Group by 40.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 29,540 shares of the technology company’s stock worth $3,041,000 after purchasing an additional 8,460 shares during the period. Segall Bryant & Hamill LLC raised its position in shares of The Descartes Systems Group by 1.3% during the third quarter. Segall Bryant & Hamill LLC now owns 438,553 shares of the technology company’s stock worth $45,153,000 after purchasing an additional 5,608 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of The Descartes Systems Group by 2.8% during the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock worth $440,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DSGX. BMO Capital Markets boosted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research report on Thursday, September 5th. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $109.25.

The Descartes Systems Group Stock Performance

DSGX opened at $116.08 on Monday. The company has a market cap of $9.92 billion, a PE ratio of 78.43 and a beta of 0.97. The stock has a 50-day moving average of $106.61 and a 200-day moving average of $100.73. The Descartes Systems Group Inc. has a 52-week low of $79.21 and a 52-week high of $117.24.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

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.