Summit Creek Advisors LLC reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 206,151 shares of the technology company's stock after selling 18,238 shares during the period. The Descartes Systems Group comprises 3.1% of Summit Creek Advisors LLC's holdings, making the stock its 6th largest position. Summit Creek Advisors LLC owned about 0.24% of The Descartes Systems Group worth $23,419,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. National Bank of Canada FI grew its stake in The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company's stock valued at $71,911,000 after acquiring an additional 556,408 shares during the period. Vontobel Holding Ltd. lifted its holdings in The Descartes Systems Group by 104.5% during the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company's stock valued at $48,819,000 after purchasing an additional 219,736 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $19,392,000. Allspring Global Investments Holdings LLC increased its stake in shares of The Descartes Systems Group by 18.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company's stock worth $75,498,000 after purchasing an additional 102,208 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of The Descartes Systems Group by 192,650.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 77,100 shares of the technology company's stock worth $8,754,000 after purchasing an additional 77,060 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
The Descartes Systems Group Stock Down 1.4 %
NASDAQ:DSGX traded down $1.39 on Friday, hitting $100.24. The stock had a trading volume of 206,101 shares, compared to its average volume of 196,292. The company has a fifty day moving average price of $110.36 and a two-hundred day moving average price of $110.23. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 63.04 and a beta of 0.99. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Loop Capital initiated coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a "buy" rating and a $140.00 price target for the company. Stephens reduced their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Scotiabank lifted their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday. Finally, CIBC reduced their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and a consensus target price of $120.50.
Check Out Our Latest Report on The Descartes Systems Group
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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