Redwood Investments LLC cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,377 shares of the technology company's stock after selling 14,847 shares during the quarter. Redwood Investments LLC owned approximately 0.05% of The Descartes Systems Group worth $3,903,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in DSGX. SG Americas Securities LLC bought a new stake in The Descartes Systems Group in the fourth quarter worth approximately $209,000. Whittier Trust Co. grew its holdings in The Descartes Systems Group by 1,704.2% during the fourth quarter. Whittier Trust Co. now owns 5,575 shares of the technology company's stock worth $469,000 after buying an additional 5,266 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in The Descartes Systems Group during the fourth quarter worth $2,077,000. Vanguard Group Inc. grew its holdings in The Descartes Systems Group by 1.6% during the third quarter. Vanguard Group Inc. now owns 3,065,662 shares of the technology company's stock worth $224,958,000 after buying an additional 49,402 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in The Descartes Systems Group by 15.7% during the third quarter. Citigroup Inc. now owns 18,179 shares of the technology company's stock worth $1,340,000 after buying an additional 2,472 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have issued reports on DSGX. Royal Bank of Canada upped their price objective on The Descartes Systems Group from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, March 7th. Wolfe Research upgraded The Descartes Systems Group from a "peer perform" rating to an "outperform" rating and set a $95.00 price objective for the company in a research note on Wednesday, January 10th. Scotiabank upped their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the company a "sector outperform" rating in a research note on Thursday, March 7th. BMO Capital Markets upped their price objective on The Descartes Systems Group from $88.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, March 7th. Finally, TD Securities upped their price objective on The Descartes Systems Group from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.78.
Get Our Latest Analysis on The Descartes Systems Group
The Descartes Systems Group Stock Performance
NASDAQ DSGX traded up $1.49 during trading hours on Monday, hitting $93.02. The company had a trading volume of 141,909 shares, compared to its average volume of 148,197. The Descartes Systems Group Inc. has a 52 week low of $69.59 and a 52 week high of $94.54. The firm has a 50 day simple moving average of $89.46 and a 200 day simple moving average of $82.27. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 69.42 and a beta of 0.94.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The business had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. During the same quarter last year, the company earned $0.34 EPS. The firm's revenue was up 18.5% compared to the same quarter last year. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.66 earnings per share for the current year.
About The Descartes Systems Group
(
Free Report)
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.
Featured Articles
Before you consider The Descartes Systems Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Descartes Systems Group wasn't on the list.
While The Descartes Systems Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
