GW&K Investment Management LLC Sells 16,159 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

GW&K Investment Management LLC lessened its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 585,803 shares of the technology company's stock after selling 16,159 shares during the quarter. 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in The Descartes Systems Group during the first quarter worth approximately $25,000. GeoWealth Management LLC boosted its holdings in The Descartes Systems Group by 63.2% in 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 during the period. Cullen Frost Bankers Inc. purchased a new position in shares of The Descartes Systems Group during the 1st quarter valued at approximately $49,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of The Descartes Systems Group during the 4th quarter valued at approximately $57,000. Finally, Optiver Holding B.V. acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DSGX shares. Scotiabank increased their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 26th. Royal Bank Of Canada decreased their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Morgan Stanley initiated coverage on The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Barclays decreased their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Finally, Stephens reduced their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average target price of $122.18.

The Descartes Systems Group Trading Up 0.5%

Shares of DSGX stock traded up $0.49 on Thursday, hitting $106.04. 162,701 shares of the stock were exchanged, compared to its average volume of 331,734. The firm has a market capitalization of $9.10 billion, a P/E ratio of 63.88 and a beta of 0.82. The business has a 50-day moving average of $105.56 and a 200 day moving average of $107.31. The Descartes Systems Group Inc. has a fifty-two week low of $90.61 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued 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 net margin of 21.67% and a return on equity of 10.53%. The company had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same period last year, the company posted $0.40 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.