Trust Point Inc. Trims Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Trust Point Inc. trimmed its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,346 shares of the technology company's stock after selling 3,344 shares during the quarter. Trust Point Inc.'s holdings in The Descartes Systems Group were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI raised its holdings in shares of The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company's stock valued at $71,911,000 after purchasing an additional 556,408 shares during the period. Lord Abbett & CO. LLC raised its stake in The Descartes Systems Group by 12.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company's stock worth $69,282,000 after buying an additional 72,501 shares during the period. Vontobel Holding Ltd. boosted its holdings in The Descartes Systems Group by 52.5% in the third quarter. Vontobel Holding Ltd. now owns 210,280 shares of the technology company's stock worth $21,636,000 after acquiring an additional 72,435 shares in the last quarter. Canoe Financial LP acquired a new stake in The Descartes Systems Group in the fourth quarter valued at approximately $7,939,000. Finally, DF Dent & Co. Inc. increased its holdings in shares of The Descartes Systems Group by 27.9% during the third quarter. DF Dent & Co. Inc. now owns 279,675 shares of the technology company's stock valued at $28,795,000 after acquiring an additional 61,080 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX traded up $1.50 during trading on Thursday, reaching $118.93. 199,044 shares of the stock traded hands, compared to its average volume of 195,068. The company has a 50-day moving average of $116.22 and a 200-day moving average of $107.91. The Descartes Systems Group Inc. has a 52-week low of $84.12 and a 52-week high of $122.88. The stock has a market capitalization of $10.18 billion, a P/E ratio of 74.80 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same quarter in the prior year, the business posted $0.31 EPS. Analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on DSGX. BMO Capital Markets lifted their price target on shares of 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. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday. Stephens upgraded shares of The Descartes Systems Group to a "strong-buy" rating in a report on Saturday, February 1st. TD Securities raised their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Barclays raised The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.92.

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.