Allspring Global Investments Holdings LLC Has $57.96 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Allspring Global Investments Holdings LLC reduced its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 562,926 shares of the technology company's stock after selling 30,980 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.66% of The Descartes Systems Group worth $57,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Central Pacific Bank Trust Division acquired a new position in The Descartes Systems Group during the 1st quarter worth $28,000. Whittier Trust Co. of Nevada Inc. grew its stake in The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company's stock worth $45,000 after purchasing an additional 429 shares in the last quarter. Park Place Capital Corp raised its stake in The Descartes Systems Group by 48.5% during the first quarter. Park Place Capital Corp now owns 671 shares of the technology company's stock valued at $61,000 after buying an additional 219 shares in the last quarter. Intact Investment Management Inc. bought a new position in The Descartes Systems Group during the 2nd quarter worth approximately $61,000. Finally, Blue Trust Inc. grew its position in shares of The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company's stock worth $63,000 after acquiring an additional 587 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Up 0.1 %

NASDAQ DSGX traded up $0.13 on Tuesday, reaching $106.63. 101,701 shares of the stock traded hands, compared to its average volume of 152,485. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $108.02. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 76.07 and a beta of 0.97. The firm's fifty day simple moving average is $101.07 and its 200 day simple moving average is $97.72.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, September 5th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an "outperform" rating in a research report on Thursday, September 26th. National Bank Financial raised shares of The Descartes Systems Group to a "strong-buy" rating in a report on Wednesday, September 25th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the company a "buy" rating in a report on Thursday, September 5th. Finally, BMO Capital Markets boosted their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a "market perform" rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.83.

The Descartes Systems Group Company 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.