Voloridge Investment Management LLC cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 38.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,509 shares of the technology company's stock after selling 31,378 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.06% of The Descartes Systems Group worth $5,738,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of The Descartes Systems Group by 14.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after acquiring an additional 108 shares during the period. GeoWealth Management LLC grew its stake in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after acquiring an additional 132 shares during the period. Shell Asset Management Co. grew its stake in shares of The Descartes Systems Group by 1.8% during the 4th quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company's stock valued at $1,104,000 after acquiring an additional 172 shares during the period. Mather Group LLC. grew its stake in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after acquiring an additional 181 shares during the period. Finally, Allworth Financial LP grew its stake in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after acquiring an additional 182 shares during the period. 77.73% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on DSGX shares. CIBC cut their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. BMO Capital Markets lowered 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. Wall Street Zen cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Stephens lowered their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Scotiabank boosted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.
Read Our Latest Stock Analysis on DSGX
The Descartes Systems Group Stock Performance
Shares of DSGX traded up $0.90 during mid-day trading on Friday, hitting $114.58. 289,378 shares of the stock were exchanged, compared to its average volume of 208,783. The company has a market cap of $9.81 billion, a PE ratio of 72.06 and a beta of 0.88. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The firm has a 50-day moving average of $106.13 and a two-hundred day moving average of $110.75.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
The Descartes Systems Group Company Profile
(
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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