Clearbridge Investments LLC Sells 71,601 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Clearbridge Investments LLC lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 16.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 352,421 shares of the technology company's stock after selling 71,601 shares during the period. Clearbridge Investments LLC owned approximately 0.41% of The Descartes Systems Group worth $40,035,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after acquiring an additional 54,341 shares during the period. Franklin Resources Inc. increased its position in shares of The Descartes Systems Group by 3.1% during the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company's stock valued at $142,693,000 after purchasing an additional 40,807 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after purchasing an additional 639,848 shares during the period. Norges Bank acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at $126,918,000. Finally, TD Asset Management Inc. lifted its position in The Descartes Systems Group by 3.2% in the fourth quarter. TD Asset Management Inc. now owns 899,762 shares of the technology company's stock worth $102,224,000 after purchasing an additional 28,204 shares during the period. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded down $4.83 on Friday, reaching $95.84. The company's stock had a trading volume of 792,483 shares, compared to its average volume of 203,091. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 60.28 and a beta of 0.99. The business's fifty day moving average price is $108.55 and its 200 day moving average price is $110.48.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DSGX shares. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. BMO Capital Markets dropped 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 report on Thursday, March 6th. Royal Bank of Canada restated an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 target price for the company. Finally, Barclays cut 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. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.50.

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.