Durable Capital Partners LP lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,915,564 shares of the technology company's stock after selling 540,323 shares during the quarter. The Descartes Systems Group comprises about 2.7% of Durable Capital Partners LP's portfolio, making the stock its 16th largest position. Durable Capital Partners LP owned 3.41% of The Descartes Systems Group worth $331,208,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of The Descartes Systems Group in the fourth quarter valued at $43,000. Geode Capital Management LLC grew its holdings in shares of The Descartes Systems Group by 23.0% in the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock worth $67,934,000 after purchasing an additional 110,329 shares during the last quarter. Canoe Financial LP bought a new position in shares of The Descartes Systems Group in the fourth quarter worth about $7,939,000. Stephens Investment Management Group LLC grew its holdings in shares of The Descartes Systems Group by 9.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 209,176 shares of the technology company's stock worth $23,762,000 after purchasing an additional 18,233 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in The Descartes Systems Group by 36.5% during the 4th quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock worth $1,388,000 after acquiring an additional 3,267 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.
The Descartes Systems Group Price Performance
DSGX traded up $4.95 during trading on Monday, reaching $112.41. 197,847 shares of the company's stock were exchanged, compared to its average volume of 204,460. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The stock has a market capitalization of $9.62 billion, a P/E ratio of 70.70 and a beta of 0.88. The company's fifty day simple moving average is $102.20 and its 200-day simple moving average is $110.32.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $169.97 million. Equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on DSGX shares. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Scotiabank raised their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. Stephens lowered their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. Finally, StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $119.50.
Check Out Our Latest Stock Report on The Descartes Systems Group
The Descartes Systems Group Company Profile
(
Free Report)
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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