Fenimore Asset Management Inc Reduces Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Fenimore Asset Management Inc cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,402 shares of the technology company's stock after selling 5,255 shares during the period. Fenimore Asset Management Inc owned approximately 0.15% of The Descartes Systems Group worth $14,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Avior Wealth Management LLC increased its holdings in 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 worth $440,000 after purchasing an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of The Descartes Systems Group by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company's stock valued at $388,000 after acquiring an additional 137 shares in the last quarter. Assetmark Inc. lifted its position in shares of The Descartes Systems Group by 3.5% during the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company's stock valued at $601,000 after acquiring an additional 197 shares during the period. Stephens Inc. AR lifted its position in shares of The Descartes Systems Group by 2.4% during the 3rd quarter. Stephens Inc. AR now owns 10,086 shares of the technology company's stock valued at $1,038,000 after acquiring an additional 238 shares during the period. Finally, Signaturefd LLC boosted its stake in The Descartes Systems Group by 12.1% during the third quarter. Signaturefd LLC now owns 2,425 shares of the technology company's stock worth $250,000 after acquiring an additional 261 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DSGX. StockNews.com lowered shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Wednesday, January 15th. Royal Bank of Canada increased their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an "outperform" rating in a report on Friday, November 29th. Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a "buy" rating and a $140.00 price objective for the company. Scotiabank upped their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $117.92.

The Descartes Systems Group Stock Down 0.6 %

The Descartes Systems Group stock traded down $0.76 during midday trading on Friday, hitting $119.13. 137,705 shares of the stock were exchanged, compared to its average volume of 156,764. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 74.92 and a beta of 0.99. The Descartes Systems Group Inc. has a 52-week low of $84.12 and a 52-week high of $122.88. The business's 50-day moving average price is $116.00 and its 200-day moving average price is $107.02.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates 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 previous year, the company posted $0.31 earnings per share. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.