GW&K Investment Management LLC Cuts Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

GW&K Investment Management LLC decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 585,803 shares of the technology company's stock after selling 16,159 shares during the period. GW&K Investment Management LLC owned approximately 0.68% of The Descartes Systems Group worth $59,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealth Alliance LLC raised its position in shares of The Descartes Systems Group by 5.4% during the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company's stock worth $232,000 after purchasing an additional 118 shares during the last quarter. Montrusco Bolton Investments Inc. increased its stake in The Descartes Systems Group by 0.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 42,539 shares of the technology company's stock valued at $4,282,000 after purchasing an additional 155 shares during the period. Cullen Frost Bankers Inc. acquired a new position in The Descartes Systems Group during the first quarter worth about $49,000. Segall Bryant & Hamill LLC lifted its holdings in shares of The Descartes Systems Group by 0.4% in the first quarter. Segall Bryant & Hamill LLC now owns 449,633 shares of the technology company's stock valued at $45,336,000 after purchasing an additional 1,825 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of The Descartes Systems Group by 20.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 19,392 shares of the technology company's stock valued at $1,955,000 after buying an additional 3,299 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on DSGX. Royal Bank Of Canada lowered their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. Scotiabank lifted their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. Stephens reduced 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. Morgan Stanley started coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price on the stock. Finally, Barclays lowered their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Four research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $105.09 on Monday. The stock's fifty day moving average is $106.07 and its two-hundred day moving average is $107.41. The Descartes Systems Group Inc. has a 1-year low of $90.61 and a 1-year high of $124.31. The stock has a market cap of $9.01 billion, a PE ratio of 63.31 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The firm had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same period last year, the firm earned $0.40 EPS. The Descartes Systems Group's revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect 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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