Massachusetts Financial Services Co. MA Sells 242,577 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• Massachusetts Financial Services Co. sold 242,577 shares of The Descartes Systems Group in Q4, cutting its stake by 60.6% to 157,404 shares worth about $13.8 million (≈0.18% of the company).
• Descartes posted a quarterly beat with EPS of $0.52 vs. $0.50 expected and revenue of $192.37 million (up 15.1% year-over-year), with a net margin of 22.47%.
• Shares trade around $75.80 with a $6.52 billion market cap, and analysts carry an average rating of "Moderate Buy" with a consensus target of $105.45 despite several recent price-target cuts.

Massachusetts Financial Services Co. MA lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 60.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 157,404 shares of the technology company's stock after selling 242,577 shares during the period. Massachusetts Financial Services Co. MA owned about 0.18% of The Descartes Systems Group worth $13,798,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DSGX. Goldman Sachs Group Inc. lifted its stake in The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company's stock worth $38,027,000 after purchasing an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company's stock worth $5,507,000 after purchasing an additional 660 shares in the last quarter. Amundi lifted its stake in The Descartes Systems Group by 74.5% in the 2nd quarter. Amundi now owns 82,319 shares of the technology company's stock worth $8,360,000 after purchasing an additional 35,132 shares in the last quarter. Federated Hermes Inc. lifted its stake in The Descartes Systems Group by 25.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company's stock worth $127,000 after purchasing an additional 254 shares in the last quarter. Finally, AXA S.A. lifted its stake in The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company's stock worth $681,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 4.4%

Shares of NASDAQ DSGX opened at $75.80 on Friday. The firm's 50-day moving average price is $68.99 and its 200-day moving average price is $80.96. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 40.75 and a beta of 0.71. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $192.37 million for the quarter, compared to analysts' expectations of $188.09 million. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The business's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on DSGX. BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $95.00 to $82.00 and set a "market perform" rating on the stock in a research note on Thursday, March 12th. Scotiabank decreased their price target on shares of The Descartes Systems Group from $115.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 4th. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $100.00 to $90.00 in a research note on Thursday. Canaccord Genuity Group decreased their price target 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. Finally, Morgan Stanley decreased their price target on shares of The Descartes Systems Group from $115.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.45.

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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