American Century Companies Inc. Sells 36,537 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

American Century Companies Inc. reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 211,354 shares of the technology company's stock after selling 36,537 shares during the quarter. American Century Companies Inc. owned approximately 0.25% of The Descartes Systems Group worth $24,025,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in The Descartes Systems Group in the fourth quarter valued at $269,000. Quantbot Technologies LP lifted its stake in shares of The Descartes Systems Group by 511.9% in the 4th quarter. Quantbot Technologies LP now owns 20,902 shares of the technology company's stock valued at $2,374,000 after purchasing an additional 17,486 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of The Descartes Systems Group by 962.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 16,093 shares of the technology company's stock valued at $1,828,000 after purchasing an additional 14,579 shares during the period. Whittier Trust Co. boosted its position in shares of The Descartes Systems Group by 52.0% during the 4th quarter. Whittier Trust Co. now owns 14,006 shares of the technology company's stock valued at $1,591,000 after purchasing an additional 4,790 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in The Descartes Systems Group by 1.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock worth $2,677,000 after purchasing an additional 222 shares during the period. 77.73% of the stock is owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DSGX shares. Stephens dropped their price target on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Loop Capital began coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a "buy" rating and a $140.00 target price on the stock. TD Securities raised their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday, March 28th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and a consensus target price of $120.50.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded down $3.34 during trading hours on Thursday, reaching $100.67. The company had a trading volume of 485,826 shares, compared to its average volume of 199,866. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 63.31 and a beta of 0.99. The Descartes Systems Group Inc. has a 12 month low of $87.20 and a 12 month high of $124.31. The business has a fifty day simple moving average of $109.01 and a 200-day simple moving average of $110.35.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 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.