Allspring Global Investments Holdings LLC Sells 136,255 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Allspring Global Investments Holdings LLC reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 20.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 528,879 shares of the technology company's stock after selling 136,255 shares during the period. Allspring Global Investments Holdings LLC owned about 0.62% of The Descartes Systems Group worth $53,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of The Descartes Systems Group by 14.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after buying an additional 108 shares during the last quarter. GeoWealth Management LLC raised its stake in shares of The Descartes Systems Group by 63.2% in the fourth 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 last quarter. Shell Asset Management Co. raised its stake in shares of The Descartes Systems Group by 1.8% in the fourth quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company's stock worth $1,104,000 after acquiring an additional 172 shares during the last quarter. Vista Finance LLC lifted its position in shares of The Descartes Systems Group by 7.0% during the first quarter. Vista Finance LLC now owns 3,119 shares of the technology company's stock worth $314,000 after purchasing an additional 203 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of The Descartes Systems Group by 1.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock valued at $2,677,000 after purchasing an additional 222 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

DSGX traded up $1.68 during midday trading on Thursday, reaching $103.24. 436,074 shares of the company were exchanged, compared to its average volume of 238,819. The Descartes Systems Group Inc. has a one year low of $90.61 and a one year high of $124.31. The stock has a market capitalization of $8.86 billion, a P/E ratio of 62.19 and a beta of 0.82. The stock's 50-day simple moving average is $106.88 and its 200 day simple moving average is $108.51.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The firm had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business's revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DSGX shares. Stephens dropped 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 report on Wednesday, April 9th. Royal Bank Of Canada lowered 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. Scotiabank upped their price target on 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. BMO Capital Markets decreased their price target on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Finally, CIBC dropped their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.