Hsbc Holdings PLC Sells 8,248 Shares of The Descartes Systems Group Inc. $DSGX

Hsbc Holdings PLC trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,383 shares of the technology company’s stock after selling 8,248 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of The Descartes Systems Group worth $5,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. grew its position in The Descartes Systems Group by 1.0% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 52,087 shares of the technology company’s stock worth $5,294,000 after acquiring an additional 527 shares during the last quarter. Employees Retirement System of Texas acquired a new position in The Descartes Systems Group in the second quarter worth $68,000. Picton Mahoney Asset Management bought a new stake in shares of The Descartes Systems Group during the second quarter worth $48,378,000. Cynosure Group LLC bought a new stake in shares of The Descartes Systems Group during the second quarter worth $1,004,000. Finally, Franklin Resources Inc. increased its stake in shares of The Descartes Systems Group by 7.0% in the second quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock valued at $186,749,000 after buying an additional 120,137 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 14.4%

Shares of DSGX opened at $94.87 on Friday. The stock has a market cap of $8.16 billion, a P/E ratio of 53.60 and a beta of 0.74. The Descartes Systems Group Inc. has a 1 year low of $78.88 and a 1 year high of $124.31. The stock’s 50-day moving average price is $89.29 and its two-hundred day moving average price is $98.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.76%. The business had revenue of $186.78 million for the quarter, compared to the consensus estimate of $184.24 million. During the same period last year, the company posted $0.42 EPS. The Descartes Systems Group’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Securities began coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They set a “buy” rating and a $121.00 price target on the stock. Scotiabank decreased their price target on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday. Zacks Research upgraded shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $117.55.

About The Descartes Systems Group

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.