Invesco Ltd. cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 35.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 867,846 shares of the technology company's stock after selling 483,014 shares during the quarter. Invesco Ltd. owned approximately 1.01% of The Descartes Systems Group worth $98,587,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mather Group LLC. lifted its stake in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter valued at about $43,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group in the 4th quarter valued at approximately $54,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in The Descartes Systems Group during the 4th quarter worth $57,000. Finally, GAMMA Investing LLC boosted its holdings in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after acquiring an additional 495 shares during the last quarter. Institutional investors own 77.73% of the company's stock.
The Descartes Systems Group Stock Performance
DSGX traded up $2.00 during trading on Tuesday, reaching $103.58. The stock had a trading volume of 301,889 shares, compared to its average volume of 208,347. The business has a 50-day moving average of $105.78 and a 200-day moving average of $110.22. The Descartes Systems Group Inc. has a one year low of $88.44 and a one year high of $124.31. The stock has a market cap of $8.87 billion, a PE ratio of 65.14 and a beta of 0.97.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. The company 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%. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. CIBC dropped their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Stephens cut their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Scotiabank raised 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, March 26th. BMO Capital Markets reduced their price objective on shares of 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. Finally, Loop Capital initiated coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.
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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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