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

Granahan Investment Management LLC reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,474 shares of the technology company's stock after selling 8,639 shares during the period. Granahan Investment Management LLC owned about 0.05% of The Descartes Systems Group worth $5,279,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DSGX. Focus Partners Wealth lifted its stake in The Descartes Systems Group by 2.7% during the fourth quarter. Focus Partners Wealth now owns 32,656 shares of the technology company's stock worth $3,710,000 after purchasing an additional 865 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in shares of The Descartes Systems Group by 53.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 76,473 shares of the technology company's stock worth $8,687,000 after buying an additional 26,476 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of The Descartes Systems Group by 1,670.4% in the 4th quarter. Fred Alger Management LLC now owns 74,518 shares of the technology company's stock valued at $8,465,000 after buying an additional 70,309 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of The Descartes Systems Group by 23.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 31,238 shares of the technology company's stock valued at $3,549,000 after buying an additional 5,937 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in The Descartes Systems Group by 17.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 58,949 shares of the technology company's stock worth $6,697,000 after acquiring an additional 8,931 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX traded up $0.66 during mid-day trading on Thursday, reaching $113.15. The stock had a trading volume of 107,831 shares, compared to its average volume of 206,588. The business has a 50 day simple moving average of $102.73 and a 200 day simple moving average of $110.42. The Descartes Systems Group Inc. has a twelve month low of $89.00 and a twelve month high of $124.31. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 71.09 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS 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 business had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

DSGX has been the topic of a number of research analyst reports. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stephens reduced their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets lowered 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. Scotiabank lifted their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. Finally, Barclays decreased their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. Four investment 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 MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group 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.