Oppenheimer Asset Management Inc. Reduces Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Oppenheimer Asset Management cut its stake in The Descartes Systems Group by 43.7% in Q4, selling 18,278 shares and ending the period with 23,542 shares valued at about $2.06 million.
• Other institutions increased positions—most notably Vanguard now holds 3,602,652 shares (~$316.05M) and UBS added to own 225,603 shares—leaving roughly 77.73% of the stock in hedge fund and institutional hands.
• Descartes beat Q earnings and revenue (EPS $0.52 vs $0.50 est; revenue $192.37M vs $188.09M), trades with a market cap of $6.34B and a PE of ~39.6, and carries a consensus rating of "Moderate Buy" with an average price target of $105.45.

Oppenheimer Asset Management Inc. reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 43.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,542 shares of the technology company's stock after selling 18,278 shares during the period. Oppenheimer Asset Management Inc.'s holdings in The Descartes Systems Group were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of The Descartes Systems Group in the 4th quarter worth $264,000. M&T Bank Corp boosted its stake in shares of The Descartes Systems Group by 20.2% in the 4th quarter. M&T Bank Corp now owns 13,932 shares of the technology company's stock worth $1,224,000 after buying an additional 2,339 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of The Descartes Systems Group by 16.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 45,206 shares of the technology company's stock worth $3,971,000 after buying an additional 6,226 shares during the last quarter. UBS Group AG boosted its stake in shares of The Descartes Systems Group by 177.3% in the 4th quarter. UBS Group AG now owns 225,603 shares of the technology company's stock worth $19,776,000 after buying an additional 144,233 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 worth $316,050,000 after buying an additional 69,260 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Up 0.8%

NASDAQ:DSGX opened at $73.72 on Tuesday. The business's 50-day simple moving average is $70.44 and its two-hundred day simple moving average is $79.23. The stock has a market cap of $6.34 billion, a PE ratio of 39.63 and a beta of 0.65. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted 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 business had revenue of $192.37 million for the quarter, compared to analysts' expectations of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 2.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DSGX has been the topic of several analyst reports. Weiss Ratings downgraded The Descartes Systems Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, April 9th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a "neutral" rating to a "buy" rating and lowered their target price for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Canaccord Genuity Group lowered their target price on The Descartes Systems Group from $110.00 to $92.00 and set a "buy" rating on the stock in a research report on Thursday, March 12th. Scotiabank lowered their target price on The Descartes Systems Group from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 4th. Finally, Zacks Research downgraded The Descartes Systems Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding DSGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.