Cumberland Partners Ltd trimmed its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 17.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,670 shares of the technology company's stock after selling 15,233 shares during the quarter. Cumberland Partners Ltd owned 0.08% of The Descartes Systems Group worth $8,027,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its stake in shares of The Descartes Systems Group by 2.8% in the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company's stock valued at $440,000 after buying an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of The Descartes Systems Group by 3.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company's stock valued at $388,000 after buying an additional 137 shares in the last quarter. Mather Group LLC. grew its stake in shares of The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after buying an additional 181 shares in the last quarter. Allworth Financial LP grew its stake in shares of The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after buying an additional 182 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of The Descartes Systems Group by 3.5% in the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company's stock valued at $601,000 after buying an additional 197 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a "buy" rating and a $140.00 target price for the company. Stephens upgraded The Descartes Systems Group to a "strong-buy" rating in a research note on Saturday, February 1st. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Scotiabank raised their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a "sector outperform" rating in a research note on Wednesday, December 4th. Finally, Barclays upgraded The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.92.
Get Our Latest Analysis on The Descartes Systems Group
The Descartes Systems Group Stock Down 1.5 %
NASDAQ:DSGX traded down $1.69 during trading hours on Friday, reaching $111.88. 213,446 shares of the stock were exchanged, compared to its average volume of 246,399. The stock has a market capitalization of $9.58 billion, a P/E ratio of 70.37 and a beta of 0.99. The Descartes Systems Group Inc. has a 52 week low of $84.83 and a 52 week high of $124.31. The firm has a 50 day simple moving average of $115.68 and a 200-day simple moving average of $109.29.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
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.
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