Baird Financial Group Inc. Sells 41,441 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Baird Financial Group Inc. lessened its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 430,369 shares of the technology company's stock after selling 41,441 shares during the period. Baird Financial Group Inc. owned 0.50% of The Descartes Systems Group worth $48,890,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after buying an additional 54,341 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of The Descartes Systems Group by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after buying an additional 101,290 shares during the period. Franklin Resources Inc. raised its stake in The Descartes Systems Group by 23.9% in the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after buying an additional 326,643 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in The Descartes Systems Group by 114.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after buying an additional 639,848 shares during the period. Finally, Norges Bank purchased a new position in shares of The Descartes Systems Group during the 4th quarter worth approximately $126,918,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DSGX. Scotiabank upped their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Stephens decreased their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Barclays cut their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday, March 28th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $119.50.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock traded down $1.25 during midday trading on Friday, reaching $107.46. 230,372 shares of the company traded hands, compared to its average volume of 204,449. The Descartes Systems Group Inc. has a 12 month low of $89.00 and a 12 month high of $124.31. The business has a 50 day moving average of $102.20 and a two-hundred day moving average of $110.28. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 67.58 and a beta of 0.88.

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 earnings per share for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The firm had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

About The Descartes Systems Group

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.