Herald Investment Management Ltd Trims Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Herald Investment Management Ltd trimmed its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,000 shares of the technology company's stock after selling 20,000 shares during the quarter. The Descartes Systems Group accounts for 3.5% of Herald Investment Management Ltd's portfolio, making the stock its 5th largest position. Herald Investment Management Ltd owned about 0.22% of The Descartes Systems Group worth $21,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of The Descartes Systems Group by 4.8% during the third quarter. Wellington Management Group LLP now owns 7,519 shares of the technology company's stock valued at $775,000 after acquiring an additional 347 shares during the period. Jane Street Group LLC lifted its holdings in The Descartes Systems Group by 20.4% during the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company's stock valued at $1,368,000 after purchasing an additional 2,250 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in The Descartes Systems Group in the third quarter valued at about $1,558,000. Barclays PLC grew its stake in The Descartes Systems Group by 2.8% during the third quarter. Barclays PLC now owns 10,008 shares of the technology company's stock worth $1,031,000 after buying an additional 270 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in The Descartes Systems Group by 10.7% during the third quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company's stock worth $50,277,000 after buying an additional 46,523 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DSGX shares. BMO Capital Markets reduced their target price 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. Barclays reduced their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Scotiabank increased their price objective 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, CIBC reduced their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average price target of $119.50.

The Descartes Systems Group Trading Up 3.3 %

Shares of The Descartes Systems Group stock traded up $3.31 on Wednesday, reaching $103.75. 111,226 shares of the company were exchanged, compared to its average volume of 207,136. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 65.25 and a beta of 0.97. The Descartes Systems Group Inc. has a one year low of $89.00 and a one year high of $124.31. The company has a 50-day moving average of $103.80 and a 200 day moving average of $110.17.

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

The Descartes Systems Group Company 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.