Addenda Capital Inc. Sells 9,770 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Addenda Capital Inc. reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,070 shares of the technology company's stock after selling 9,770 shares during the quarter. The Descartes Systems Group comprises 0.9% of Addenda Capital Inc.'s investment portfolio, making the stock its 28th biggest holding. Addenda Capital Inc. owned 0.23% of The Descartes Systems Group worth $19,568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. grew its position in The Descartes Systems Group by 301.7% during the fourth 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 period. GeoWealth Management LLC raised its holdings in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares during the period. SBI Securities Co. Ltd. acquired a new position in The Descartes Systems Group during the fourth quarter valued at approximately $43,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in The Descartes Systems Group during the fourth quarter worth approximately $57,000. Finally, Optiver Holding B.V. purchased a new stake in The Descartes Systems Group during the fourth quarter worth approximately $66,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX traded up $0.82 during midday trading on Tuesday, reaching $115.10. The company's stock had a trading volume of 208,683 shares, compared to its average volume of 209,464. The Descartes Systems Group Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $124.31. The company has a market cap of $9.85 billion, a P/E ratio of 72.39 and a beta of 0.88. The business's 50 day moving average price is $106.62 and its two-hundred day moving average price is $110.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share 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 for the quarter, compared to analysts' expectations of $169.97 million. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DSGX shares. CIBC decreased their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Scotiabank boosted 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. Royal Bank of Canada reiterated 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. BMO Capital Markets cut their price target on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Finally, Barclays cut their price target on 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and a consensus target price of $124.80.

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.