Durable Capital Partners LP Cuts Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Durable Capital Partners LP reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,915,564 shares of the technology company's stock after selling 540,323 shares during the period. The Descartes Systems Group comprises about 2.7% of Durable Capital Partners LP's holdings, making the stock its 16th largest holding. Durable Capital Partners LP owned about 3.41% of The Descartes Systems Group worth $331,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in The Descartes Systems Group by 14.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after buying an additional 108 shares during the last quarter. GeoWealth Management LLC boosted its position in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after acquiring an additional 132 shares in the last quarter. Mather Group LLC. increased 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 valued at $27,000 after acquiring an additional 181 shares during the last quarter. Allworth Financial LP increased its holdings in shares of The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after acquiring an additional 182 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. raised its position in shares of The Descartes Systems Group by 1.0% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock worth $2,677,000 after acquiring an additional 222 shares in 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 topic of a number of research analyst reports. BMO Capital Markets cut their price objective on shares of 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. Scotiabank lifted their price target 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. Stephens decreased their price objective 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. 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 decreased their target price on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $119.50.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $107.64 on Wednesday. The stock has a fifty day moving average price of $102.33 and a 200 day moving average price of $110.25. 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 market cap of $9.21 billion, a PE ratio of 67.70 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. Analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

The Descartes Systems Group Company 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.

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