The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Holdings Lessened by Riverbridge Partners LLC

Riverbridge Partners LLC cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 8.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 730,524 shares of the technology company's stock after selling 70,399 shares during the period. Riverbridge Partners LLC owned about 0.85% of The Descartes Systems Group worth $73,659,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after buying an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. grew its position in shares of The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after purchasing an additional 54,341 shares during the period. T. Rowe Price Investment Management Inc. raised its position in The Descartes Systems Group by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after buying an additional 101,290 shares during the last quarter. Franklin Resources Inc. lifted its position in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after buying an additional 326,643 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after buying an additional 639,848 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of DSGX stock traded up $0.26 on Friday, hitting $99.22. The stock had a trading volume of 349,593 shares, compared to its average volume of 227,906. The stock's 50 day moving average is $107.00 and its 200-day moving average is $109.64. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 59.77 and a beta of 0.87. The Descartes Systems Group Inc. has a 52-week low of $90.61 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business's quarterly revenue was up 11.5% on a year-over-year basis. Equities analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DSGX. Royal Bank Of Canada decreased their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Stephens reduced their target price on shares of 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. Barclays reduced their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 5th. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Finally, CIBC lowered their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $123.40.

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.