Granite Investment Partners LLC Sells 4,519 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Granite Investment Partners LLC lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,376 shares of the technology company's stock after selling 4,519 shares during the quarter. Granite Investment Partners LLC's holdings in The Descartes Systems Group were worth $4,814,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mather Group LLC. raised its holdings in shares of The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of The Descartes Systems Group during the 4th quarter worth $43,000. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth $54,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth $57,000. Finally, GAMMA Investing LLC lifted its holdings in shares of The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after purchasing an additional 495 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several recent analyst reports. Barclays decreased their target price on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. BMO Capital Markets lowered their target price on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Finally, CIBC lowered their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and a consensus price target of $119.50.

The Descartes Systems Group Trading Down 0.8 %

DSGX stock traded down $0.78 during trading on Friday, reaching $102.32. 135,800 shares of the stock were exchanged, compared to its average volume of 208,049. The Descartes Systems Group Inc. has a twelve month low of $89.00 and a twelve month high of $124.31. The company has a market capitalization of $8.76 billion, a P/E ratio of 64.35 and a beta of 0.97. The stock has a 50 day simple moving average of $104.73 and a 200-day simple moving average of $110.12.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (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 for the quarter, compared to analysts' expectations of $169.97 million. Equities analysts predict 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.