Congress Asset Management Co. decreased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 11.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,042,008 shares of the technology company's stock after selling 138,636 shares during the quarter. Congress Asset Management Co. owned 1.22% of The Descartes Systems Group worth $105,066,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in The Descartes Systems Group in the 4th quarter valued at about $43,000. Geode Capital Management LLC lifted its position in The Descartes Systems Group by 23.0% in the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after acquiring an additional 110,329 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in The Descartes Systems Group by 9.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 209,176 shares of the technology company's stock valued at $23,762,000 after acquiring an additional 18,233 shares in the last quarter. Wellington Management Group LLP lifted its position in The Descartes Systems Group by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company's stock valued at $904,000 after acquiring an additional 438 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of The Descartes Systems Group during the 4th quarter worth approximately $409,000. Institutional investors own 77.73% of the company's stock.
Analyst Ratings Changes
DSGX has been the topic of several recent analyst reports. Stephens dropped their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Barclays dropped their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research report on Thursday, March 6th. Finally, Royal Bank of Canada dropped their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.40.
Get Our Latest Stock Analysis on The Descartes Systems Group
The Descartes Systems Group Stock Performance
The Descartes Systems Group stock traded up $0.65 during mid-day trading on Friday, reaching $102.25. The company's stock had a trading volume of 657,253 shares, compared to its average volume of 218,074. The Descartes Systems Group Inc. has a 12-month low of $90.61 and a 12-month high of $124.31. The company has a market capitalization of $8.75 billion, a P/E ratio of 64.31 and a beta of 0.87. The firm's fifty day moving average price is $106.95 and its two-hundred day moving average price is $110.62.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released 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 21.80% and a return on equity of 10.65%. The business had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The firm's quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.
The Descartes Systems Group Company Profile
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Free Report)
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.
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