Congress Wealth Management LLC DE trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,206 shares of the technology company's stock after selling 3,725 shares during the period. Congress Wealth Management LLC DE owned 0.18% of The Descartes Systems Group worth $17,063,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of DSGX. EverSource Wealth Advisors LLC boosted its stake in The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock worth $96,000 after buying an additional 108 shares during the last quarter. Mather Group LLC. boosted its position in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Allworth Financial LP boosted its position in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after acquiring an additional 182 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of The Descartes Systems Group by 1.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock valued at $2,677,000 after purchasing an additional 222 shares during the period. Finally, Barclays PLC increased its position in The Descartes Systems Group by 2.8% during the third quarter. Barclays PLC now owns 10,008 shares of the technology company's stock worth $1,031,000 after purchasing an additional 270 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on DSGX. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price target for the company. CIBC lowered their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Stephens cut their target price on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 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. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.50.
Get Our Latest Research Report on DSGX
The Descartes Systems Group Price Performance
Shares of NASDAQ DSGX traded down $1.39 during midday trading on Friday, hitting $100.24. The company's stock had a trading volume of 206,101 shares, compared to its average volume of 196,292. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 63.04 and a beta of 0.99. The business's fifty day simple moving average is $110.36 and its two-hundred day simple moving average is $110.23. The Descartes Systems Group Inc. has a 1 year low of $87.20 and a 1 year high of $124.31.
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 EPS for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. Analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.
The Descartes Systems Group Company Profile
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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.
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