Cumberland Partners Ltd Has $2.76 Million Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Cumberland Partners Ltd cut its Descartes Systems Group stake by 44% in the fourth quarter, leaving it with 31,450 shares valued at about $2.76 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 77.73% of the stock; several large investors, including Vanguard and Temasek, added to their positions.
• Analysts remain broadly positive despite some target cuts, with Descartes carrying a Moderate Buy consensus and a $105.45 average price target, while the stock recently traded around $71.29.

Cumberland Partners Ltd reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 44.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,450 shares of the technology company's stock after selling 24,709 shares during the period. Cumberland Partners Ltd's holdings in The Descartes Systems Group were worth $2,762,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in The Descartes Systems Group by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company's stock valued at $316,050,000 after buying an additional 69,260 shares during the last quarter. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 10.2% during the 3rd quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company's stock worth $280,123,000 after purchasing an additional 276,329 shares during the last quarter. Bank of Montreal Can increased its stake in shares of The Descartes Systems Group by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company's stock worth $158,507,000 after purchasing an additional 5,317 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in shares of The Descartes Systems Group by 63.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company's stock worth $137,968,000 after purchasing an additional 567,386 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of The Descartes Systems Group by 54.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company's stock worth $94,355,000 after purchasing an additional 351,700 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DSGX has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their price objective on shares of The Descartes Systems Group from $110.00 to $92.00 and set a "buy" rating on the stock in a research note on Thursday, March 12th. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. Weiss Ratings lowered shares of The Descartes Systems Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, April 9th. Barclays lowered their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. Finally, Zacks Research lowered shares of The Descartes Systems Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.45.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $71.29 on Friday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35. The firm has a market cap of $6.13 billion, a P/E ratio of 38.33 and a beta of 0.65. The firm's 50-day simple moving average is $71.05 and its 200 day simple moving average is $76.94.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business had revenue of $192.37 million for the quarter, compared to analyst estimates of $188.09 million. During the same quarter in the prior year, the business earned $0.43 EPS. The Descartes Systems Group's quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 2.62 earnings per share for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc NASDAQ: DSGX is a global provider of cloud-based logistics and supply chain management solutions. The company's software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes' modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.

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