Canada Pension Plan Investment Board Sells 9,100 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Canada Pension Plan Investment Board cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,451 shares of the technology company's stock after selling 9,100 shares during the period. Canada Pension Plan Investment Board owned 0.16% of The Descartes Systems Group worth $15,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in The Descartes Systems Group by 10.9% in the fourth quarter. NewEdge Advisors LLC now owns 3,427 shares of the technology company's stock valued at $389,000 after buying an additional 336 shares during the period. EAM Global Investors LLC acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at $2,953,000. EAM Investors LLC bought a new position in shares of The Descartes Systems Group in the 4th quarter worth $1,239,000. XTX Topco Ltd boosted its position in shares of The Descartes Systems Group by 66.3% in the 4th quarter. XTX Topco Ltd now owns 7,361 shares of the technology company's stock worth $836,000 after purchasing an additional 2,934 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC increased its holdings in The Descartes Systems Group by 8.8% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 49,330 shares of the technology company's stock valued at $5,604,000 after purchasing an additional 4,000 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of DSGX traded down $0.15 during mid-day trading on Friday, hitting $105.55. 114,335 shares of the company's stock were exchanged, compared to its average volume of 204,304. The company has a 50-day simple moving average of $103.13 and a 200 day simple moving average of $110.18. The company has a market cap of $9.04 billion, a PE ratio of 66.38 and a beta of 0.97. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $169.97 million. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays decreased their target price on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. CIBC cut their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Stephens decreased their price target on shares of 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. BMO Capital Markets dropped 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. Finally, StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $119.50.

The Descartes Systems Group Company 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.