Riverbridge Partners LLC cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 800,923 shares of the technology company's stock after selling 65,270 shares during the period. Riverbridge Partners LLC owned approximately 0.94% of The Descartes Systems Group worth $90,985,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its holdings in shares of The Descartes Systems Group by 2.8% during the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company's stock worth $440,000 after buying an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in The Descartes Systems Group by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company's stock worth $388,000 after acquiring an additional 137 shares during the period. Assetmark Inc. grew its stake in The Descartes Systems Group by 3.5% in the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company's stock worth $601,000 after acquiring an additional 197 shares during the period. Stephens Inc. AR grew its position in shares of The Descartes Systems Group by 2.4% in the third quarter. Stephens Inc. AR now owns 10,086 shares of the technology company's stock valued at $1,038,000 after purchasing an additional 238 shares during the period. Finally, Signaturefd LLC grew its position in shares of The Descartes Systems Group by 12.1% in the third quarter. Signaturefd LLC now owns 2,425 shares of the technology company's stock valued at $250,000 after purchasing an additional 261 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on DSGX shares. Royal Bank of Canada boosted their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an "outperform" rating in a report on Friday, November 29th. BMO Capital Markets boosted their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Scotiabank boosted their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 4th. National Bank Financial upgraded shares of The Descartes Systems Group to a "strong-buy" rating in a research note on Wednesday, September 25th. Finally, TD Securities boosted their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Five equities 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 company's stock. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of "Moderate Buy" and a consensus target price of $117.92.
Check Out Our Latest Stock Report on DSGX
The Descartes Systems Group Stock Down 0.4 %
Shares of DSGX traded down $0.52 during trading on Thursday, reaching $119.89. The company's stock had a trading volume of 157,519 shares, compared to its average volume of 186,137. The Descartes Systems Group Inc. has a twelve month low of $84.12 and a twelve month high of $122.88. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 75.40 and a beta of 0.99. The company has a fifty day moving average of $115.69 and a two-hundred day moving average of $106.75.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period last year, the firm posted $0.31 EPS. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 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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