Greystone Managed Investments Inc. Sells 31,118 Shares of The Descartes Systems Group Inc. (DSGX)

Greystone Managed Investments Inc. decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 867,151 shares of the technology company’s stock after selling 31,118 shares during the period. The Descartes Systems Group accounts for 1.0% of Greystone Managed Investments Inc.’s portfolio, making the stock its 23rd largest position. Greystone Managed Investments Inc. owned 1.13% of The Descartes Systems Group worth $23,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in The Descartes Systems Group by 19.4% during the second quarter. Russell Investments Group Ltd. now owns 80,639 shares of the technology company’s stock worth $1,959,000 after buying an additional 13,080 shares during the last quarter. Bank of Nova Scotia boosted its holdings in The Descartes Systems Group by 3.9% during the second quarter. Bank of Nova Scotia now owns 285,287 shares of the technology company’s stock worth $6,941,000 after buying an additional 10,803 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in The Descartes Systems Group by 19.3% during the second quarter. Ameriprise Financial Inc. now owns 214,500 shares of the technology company’s stock worth $5,223,000 after buying an additional 34,725 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in The Descartes Systems Group by 35.4% during the second quarter. State of Tennessee Treasury Department now owns 136,328 shares of the technology company’s stock worth $3,312,000 after buying an additional 35,628 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in The Descartes Systems Group by 65.7% during the second quarter. Goldman Sachs Group Inc. now owns 53,328 shares of the technology company’s stock worth $1,298,000 after buying an additional 21,139 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

The Descartes Systems Group Inc. (DSGX) traded down $0.10 during midday trading on Monday, hitting $29.90. The stock had a trading volume of 27,800 shares, compared to its average volume of 58,600. The firm has a market capitalization of $2,294.14, a price-to-earnings ratio of 87.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.18 and a current ratio of 2.18. The Descartes Systems Group Inc. has a 52 week low of $20.35 and a 52 week high of $30.20.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The Descartes Systems Group had a return on equity of 5.97% and a net margin of 12.06%. The business had revenue of $57.29 million for the quarter, compared to analyst estimates of $55.74 million. analysts anticipate that The Descartes Systems Group Inc. will post 0.38 EPS for the current fiscal year.

A number of equities analysts have issued reports on DSGX shares. Zacks Investment Research cut The Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Royal Bank Of Canada raised their target price on The Descartes Systems Group from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. Canaccord Genuity restated a “buy” rating and set a $30.00 target price (up previously from $28.00) on shares of The Descartes Systems Group in a report on Thursday, September 7th. BidaskClub raised The Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Finally, TD Securities raised their price target on The Descartes Systems Group from $29.00 to $40.50 and gave the stock a “buy” rating in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The Descartes Systems Group has a consensus rating of “Buy” and a consensus target price of $32.06.

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About The Descartes Systems Group

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

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