Skandinaviska Enskilda Banken AB publ Sells 7,400 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Skandinaviska Enskilda Banken AB publ cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 23.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,531 shares of the technology company's stock after selling 7,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in The Descartes Systems Group were worth $2,673,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in DSGX. Empowered Funds LLC raised its stake in shares of The Descartes Systems Group by 25.0% during the 3rd quarter. Empowered Funds LLC now owns 18,872 shares of the technology company's stock valued at $1,943,000 after purchasing an additional 3,780 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of The Descartes Systems Group by 1.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 245,099 shares of the technology company's stock valued at $25,235,000 after purchasing an additional 3,312 shares during the period. Swiss National Bank raised its stake in shares of The Descartes Systems Group by 1.1% during the 3rd quarter. Swiss National Bank now owns 258,324 shares of the technology company's stock valued at $26,624,000 after purchasing an additional 2,700 shares during the period. Pathstone Holdings LLC raised its stake in shares of The Descartes Systems Group by 1.8% during the 3rd quarter. Pathstone Holdings LLC now owns 53,434 shares of the technology company's stock valued at $5,502,000 after purchasing an additional 934 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company's stock valued at $440,000 after purchasing an additional 117 shares during the period. 77.73% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

DSGX has been the subject of several recent analyst reports. Barclays reduced their target price on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Scotiabank upped their price objective 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. Stephens cut their price objective 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. Finally, CIBC cut their price objective 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. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.33.

The Descartes Systems Group Price Performance

DSGX traded down $0.04 during midday trading on Thursday, reaching $100.03. 231,510 shares of the company's stock traded hands, compared to its average volume of 189,432. The firm has a fifty day moving average of $112.20 and a two-hundred day moving average of $110.17. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 62.91 and a beta of 0.99. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 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 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS 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.