UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 505,354 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 90.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,958 shares of the technology company's stock after selling 505,354 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.06% of The Descartes Systems Group worth $6,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mather Group LLC. boosted its position in shares of The Descartes Systems Group by 301.7% in the fourth 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. GeoWealth Management LLC increased its holdings in The Descartes Systems Group by 63.2% during the 4th 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 period. SBI Securities Co. Ltd. purchased a new stake in The Descartes Systems Group in the 4th quarter worth approximately $43,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in The Descartes Systems Group in the 4th quarter worth approximately $57,000. Finally, Optiver Holding B.V. bought a new position in The Descartes Systems Group in the 4th quarter valued at $66,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded up $0.65 during trading hours on Friday, reaching $102.25. 657,253 shares of the stock traded hands, compared to its average volume of 217,471. The stock has a 50 day simple moving average of $106.95 and a two-hundred day simple moving average of $110.68. The Descartes Systems Group Inc. has a 1 year low of $90.61 and a 1 year high of $124.31. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 64.31 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced 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 firm had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The business's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DSGX shares. CIBC decreased 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. Royal Bank of Canada reduced 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 report on Thursday. Stephens decreased their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Scotiabank lifted 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 report on Wednesday, March 26th. Finally, Barclays cut their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.40.

About The Descartes Systems Group

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.