Bank of Nova Scotia Trust Co. Sells 2,663 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Bank of Nova Scotia Trust Co. lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,683 shares of the technology company's stock after selling 2,663 shares during the quarter. Bank of Nova Scotia Trust Co. owned approximately 0.06% of The Descartes Systems Group worth $5,530,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in The Descartes Systems Group in the 4th quarter worth about $126,918,000. Arrowstreet Capital Limited Partnership boosted its position in The Descartes Systems Group by 114.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after buying an additional 639,848 shares during the period. Franklin Resources Inc. grew its holdings in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after acquiring an additional 326,643 shares during the last quarter. Vontobel Holding Ltd. increased its position in The Descartes Systems Group by 104.5% in the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company's stock valued at $48,819,000 after acquiring an additional 219,736 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $19,392,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 2.3 %

NASDAQ:DSGX traded up $2.37 during trading hours on Thursday, reaching $105.59. The company had a trading volume of 61,200 shares, compared to its average volume of 206,054. The business's 50-day simple moving average is $103.54 and its two-hundred day simple moving average is $110.12. The Descartes Systems Group Inc. has a twelve month low of $89.00 and a twelve month high of $124.31. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 66.49 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS 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 company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Stephens decreased their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Scotiabank increased their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. BMO Capital Markets cut their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $130.00 target price on shares of The Descartes Systems Group in a report on Friday, March 28th. Finally, Barclays lowered their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of "Moderate Buy" and a consensus target price of $119.50.

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.