FIL Ltd reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 78.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,000 shares of the technology company's stock after selling 129,000 shares during the quarter. FIL Ltd's holdings in The Descartes Systems Group were worth $4,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cerity Partners LLC raised its holdings in shares of The Descartes Systems Group by 44.9% during the 4th quarter. Cerity Partners LLC now owns 3,497 shares of the technology company's stock valued at $392,000 after buying an additional 1,084 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of The Descartes Systems Group by 42.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company's stock valued at $748,000 after purchasing an additional 1,977 shares in the last quarter. Quantum Capital Management LLC NJ purchased a new position in The Descartes Systems Group in the 4th quarter worth $14,961,000. George Kaiser Family Foundation bought a new stake in The Descartes Systems Group in the fourth quarter worth $3,928,000. Finally, Nicolet Advisory Services LLC boosted its position in The Descartes Systems Group by 11.0% during the fourth quarter. Nicolet Advisory Services LLC now owns 6,088 shares of the technology company's stock valued at $678,000 after buying an additional 603 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.
Analyst Upgrades and Downgrades
DSGX has been the subject of several analyst reports. BMO Capital Markets dropped their target price on 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 raised their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Royal Bank of Canada reissued an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Barclays dropped their target price on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $119.50.
Read Our Latest Analysis on The Descartes Systems Group
The Descartes Systems Group Trading Down 0.8 %
The Descartes Systems Group stock traded down $0.78 during trading hours on Friday, hitting $102.32. 135,800 shares of the stock traded hands, compared to its average volume of 208,018. The Descartes Systems Group Inc. has a one year low of $89.00 and a one year high of $124.31. The company has a market cap of $8.76 billion, a PE ratio of 64.35 and a beta of 0.97. The firm's 50-day moving average price is $104.73 and its two-hundred day moving average price is $110.12.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.
The Descartes Systems Group 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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