Centaurus Financial Inc. Trims Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Centaurus Financial Inc. cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.9% in the 3rd quarter, Holdings Channel reports. The fund owned 52,323 shares of the technology company’s stock after selling 3,303 shares during the quarter. Centaurus Financial Inc.’s holdings in The Descartes Systems Group were worth $5,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ellsworth Advisors LLC purchased a new stake in The Descartes Systems Group during the 2nd quarter valued at approximately $527,000. Public Employees Retirement Association of Colorado grew its holdings in shares of The Descartes Systems Group by 7.8% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 280,232 shares of the technology company’s stock worth $25,650,000 after acquiring an additional 20,230 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter worth approximately $2,308,000. Vanguard Group Inc. grew its holdings in shares of The Descartes Systems Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after acquiring an additional 40,897 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of The Descartes Systems Group by 6.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 97,129 shares of the technology company’s stock worth $8,890,000 after acquiring an additional 6,070 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Up 1.5 %

NASDAQ DSGX opened at $116.08 on Friday. The Descartes Systems Group Inc. has a 1-year low of $79.21 and a 1-year high of $117.24. The company has a market capitalization of $9.92 billion, a PE ratio of 78.43 and a beta of 0.97. The firm’s fifty day simple moving average is $106.61 and its 200-day simple moving average is $100.69.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Scotiabank increased their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Finally, StockNews.com raised The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

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.