Clearbridge Investments LLC reduced its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 352,421 shares of the technology company's stock after selling 71,601 shares during the period. Clearbridge Investments LLC owned 0.41% of The Descartes Systems Group worth $40,035,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. FMR LLC boosted its position in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. FMR LLC now owns 150,654 shares of the technology company's stock worth $15,503,000 after purchasing an additional 4,067 shares in the last quarter. Quantbot Technologies LP bought a new stake in The Descartes Systems Group in the third quarter worth $352,000. BNP Paribas Financial Markets purchased a new stake in shares of The Descartes Systems Group in the third quarter worth $926,000. Verition Fund Management LLC bought a new position in shares of The Descartes Systems Group during the third quarter valued at $313,000. Finally, Reynders McVeigh Capital Management LLC raised its position in shares of The Descartes Systems Group by 2.7% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 45,330 shares of the technology company's stock worth $4,667,000 after purchasing an additional 1,205 shares during the last quarter. Institutional investors own 77.73% of the company's stock.
The Descartes Systems Group Stock Performance
Shares of The Descartes Systems Group stock traded down $4.83 on Friday, hitting $95.84. 792,483 shares of the company traded hands, compared to its average volume of 203,091. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31. The business has a 50-day simple moving average of $108.55 and a 200 day simple moving average of $110.33. The stock has a market capitalization of $8.20 billion, a P/E ratio of 60.28 and a beta of 0.99.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. Research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts have weighed in on DSGX shares. Loop Capital started coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a "buy" rating and a $140.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a report on Thursday, March 6th. Scotiabank increased their target price 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. Stephens reduced their target price on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Royal Bank of Canada reaffirmed 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.50.
View Our Latest Report on DSGX
The Descartes Systems Group Company Profile
(
Free Report)
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.
Further Reading
Before you consider The Descartes Systems Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Descartes Systems Group wasn't on the list.
While The Descartes Systems Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
