Granahan Investment Management LLC Decreases Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Granahan Investment Management LLC decreased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,474 shares of the technology company's stock after selling 8,639 shares during the quarter. Granahan Investment Management LLC owned approximately 0.05% of The Descartes Systems Group worth $5,279,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Mather Group LLC. increased its stake in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after buying an additional 181 shares during the period. GeoWealth Management LLC grew 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 in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $43,000. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group in the 4th quarter valued at $54,000. Finally, GAMMA Investing LLC lifted its position in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock worth $57,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Scotiabank raised 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. Stephens cut 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 report on Wednesday, April 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. BMO Capital Markets cut their price objective on shares of 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 lowered their target price on shares of 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. Five 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $107.46 on Friday. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 67.58 and a beta of 0.88. The Descartes Systems Group Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $124.31. The firm has a 50-day simple moving average of $102.20 and a 200-day simple moving average of $110.25.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.

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