Stephens Investment Management Group LLC trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 14.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 190,943 shares of the technology company's stock after selling 33,051 shares during the quarter. Stephens Investment Management Group LLC owned 0.22% of The Descartes Systems Group worth $19,659,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in DSGX. First Trust Direct Indexing L.P. bought a new stake in The Descartes Systems Group in the third quarter worth $240,000. Legacy Wealth Asset Management LLC increased its holdings in shares of The Descartes Systems Group by 3.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company's stock worth $388,000 after buying an additional 137 shares during the period. Argent Capital Management LLC lifted its stake in shares of The Descartes Systems Group by 7.7% in the 3rd quarter. Argent Capital Management LLC now owns 50,681 shares of the technology company's stock valued at $5,218,000 after acquiring an additional 3,622 shares during the last quarter. Signaturefd LLC boosted its holdings in The Descartes Systems Group by 12.1% during the 3rd quarter. Signaturefd LLC now owns 2,425 shares of the technology company's stock valued at $250,000 after acquiring an additional 261 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 26.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company's stock worth $156,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.
Analyst Ratings Changes
Several analysts have weighed in on the company. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the company an "outperform" rating in a research report on Thursday, September 26th. National Bank Financial upgraded shares of The Descartes Systems Group to a "strong-buy" rating in a report on Wednesday, September 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday, September 5th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a "sector outperform" rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the stock a "buy" rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $106.17.
Get Our Latest Report on DSGX
The Descartes Systems Group Stock Performance
Shares of DSGX traded up $2.34 on Friday, reaching $106.27. The stock had a trading volume of 125,480 shares, compared to its average volume of 150,849. The Descartes Systems Group Inc. has a 12-month low of $72.67 and a 12-month high of $108.02. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 71.80 and a beta of 0.97. The company has a 50-day simple moving average of $102.22 and a 200-day simple moving average of $98.63.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $163.43 million for the quarter, compared to analysts' expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. On average, analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.
About The Descartes Systems Group
(
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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