Intech Investment Management LLC Lowers Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Intech Investment Management LLC cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 54.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,824 shares of the technology company's stock after selling 5,847 shares during the quarter. Intech Investment Management LLC's holdings in The Descartes Systems Group were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DSGX. Massachusetts Financial Services Co. MA raised its position in The Descartes Systems Group by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company's stock valued at $48,456,000 after purchasing an additional 9,768 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of The Descartes Systems Group by 3.6% during the third quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company's stock worth $60,248,000 after acquiring an additional 20,205 shares during the last quarter. FMR LLC lifted its stake in shares of The Descartes Systems Group by 2.8% in the third quarter. FMR LLC now owns 150,654 shares of the technology company's stock worth $15,503,000 after acquiring an additional 4,067 shares during the period. Quantbot Technologies LP bought a new stake in The Descartes Systems Group in the third quarter valued at approximately $352,000. Finally, BNP Paribas Financial Markets acquired a new stake in The Descartes Systems Group during the 3rd quarter valued at approximately $926,000. Institutional investors own 77.73% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on DSGX. Barclays reduced their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. CIBC decreased their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Scotiabank boosted their price objective 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. TD Securities upped their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Stephens lowered 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. Five research 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. Based on data from MarketBeat, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average price target of $120.50.

The Descartes Systems Group Stock Down 1.4 %

DSGX traded down $1.39 during trading on Friday, hitting $100.24. 206,101 shares of the company's stock were exchanged, compared to its average volume of 195,933. The business's 50 day moving average is $110.36 and its two-hundred day moving average is $110.23. The stock has a market cap of $8.58 billion, a P/E ratio of 63.04 and a beta of 0.99. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate 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 forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.