Icon Wealth Advisors LLC Lowers Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Icon Wealth Advisors LLC lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 31.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,383 shares of the technology company’s stock after selling 645 shares during the quarter. Icon Wealth Advisors LLC’s holdings in The Descartes Systems Group were worth $142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Place Capital Corp raised its stake in The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock worth $86,000 after acquiring an additional 212 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth about $1,612,000. Canandaigua National Bank & Trust Co. purchased a new stake in The Descartes Systems Group in the second quarter valued at approximately $295,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of The Descartes Systems Group by 52.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,474 shares of the technology company’s stock valued at $1,014,000 after purchasing an additional 3,605 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in The Descartes Systems Group by 4.3% in the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after acquiring an additional 158 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

DSGX has been the topic of several research reports. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, BMO Capital Markets lifted their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $110.75.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $116.87 on Friday. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 78.97 and a beta of 0.97. The company has a 50 day simple moving average of $108.20 and a two-hundred day simple moving average of $101.40. The Descartes Systems Group Inc. has a fifty-two week low of $79.21 and a fifty-two week high of $118.49.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data 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 company had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter last year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal 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.