Invesco Ltd. Lowers Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Invesco Ltd. lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 35.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 867,846 shares of the technology company's stock after selling 483,014 shares during the period. Invesco Ltd. owned about 1.01% of The Descartes Systems Group worth $98,587,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Mather Group LLC. raised its stake 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 worth $27,000 after purchasing an additional 181 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in The Descartes Systems Group in the 4th quarter valued at $43,000. Trust Co. of Vermont bought a new position in The Descartes Systems Group during the 4th quarter valued at $54,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of The Descartes Systems Group in the 4th quarter worth $57,000. Finally, GAMMA Investing LLC raised its holdings in shares of The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after purchasing an additional 495 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Down 0.8 %

Shares of NASDAQ DSGX traded down $0.78 during midday trading on Friday, hitting $102.32. The company's stock had a trading volume of 135,800 shares, compared to its average volume of 208,018. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 64.35 and a beta of 0.97. The stock has a fifty day moving average price of $104.73 and a 200 day moving average price of $110.12. The Descartes Systems Group Inc. has a one year low of $89.00 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results 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 firm had revenue of $167.50 million for the quarter, compared to the consensus estimate 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, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stephens reduced their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Scotiabank lifted 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. CIBC reduced 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

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.