Captrust Financial Advisors Cuts Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Captrust Financial Advisors cut its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,319 shares of the technology company's stock after selling 2,764 shares during the period. Captrust Financial Advisors' holdings in The Descartes Systems Group were worth $831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new position in The Descartes Systems Group during the 4th quarter worth $973,000. Bank of America Corp DE boosted its stake in shares of The Descartes Systems Group by 25.4% in the 4th quarter. Bank of America Corp DE now owns 284,790 shares of the technology company's stock valued at $32,352,000 after buying an additional 57,720 shares during the period. BNP Paribas Financial Markets grew its position in shares of The Descartes Systems Group by 107.0% during the fourth quarter. BNP Paribas Financial Markets now owns 18,613 shares of the technology company's stock worth $2,114,000 after buying an additional 9,620 shares in the last quarter. Jane Street Group LLC increased its stake in shares of The Descartes Systems Group by 332.7% during the fourth quarter. Jane Street Group LLC now owns 57,512 shares of the technology company's stock worth $6,533,000 after buying an additional 44,222 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in The Descartes Systems Group in the fourth quarter valued at approximately $1,125,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 0.3%

NASDAQ:DSGX traded down $0.34 during mid-day trading on Thursday, reaching $113.13. 38,241 shares of the stock were exchanged, compared to its average volume of 207,887. The stock has a market capitalization of $9.68 billion, a P/E ratio of 71.28 and a beta of 0.88. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The company has a 50 day simple moving average of $104.24 and a 200-day simple moving average of $110.67.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate 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, research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. CIBC lowered their price target on shares of 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. Scotiabank boosted 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, March 26th. Royal Bank of Canada restated an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Barclays cut their target price on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Four equities research 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 company. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

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.