Redwood Investments LLC trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 14.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 37,602 shares of the technology company's stock after selling 6,546 shares during the period. The Descartes Systems Group accounts for approximately 1.1% of Redwood Investments LLC's portfolio, making the stock its 23rd largest position. Redwood Investments LLC's holdings in The Descartes Systems Group were worth $4,272,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in shares of The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock worth $96,000 after acquiring an additional 108 shares during the period. GeoWealth Management LLC increased its stake in shares of The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after acquiring an additional 132 shares during the period. Mather Group LLC. increased its holdings in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after buying an additional 181 shares in the last quarter. Allworth Financial LP increased its holdings in The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after buying an additional 182 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. increased its holdings in The Descartes Systems Group by 1.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock valued at $2,677,000 after buying an additional 222 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on DSGX shares. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a report on Thursday, March 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $130.00 target price on shares of The Descartes Systems Group in a report on Friday, March 28th. CIBC dropped 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. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Barclays dropped their target price on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average price target of $122.18.
Read Our Latest Stock Analysis on The Descartes Systems Group
The Descartes Systems Group Stock Performance
NASDAQ DSGX traded up $0.74 during mid-day trading on Friday, reaching $113.50. 257,522 shares of the stock were exchanged, compared to its average volume of 207,643. The stock has a market capitalization of $9.72 billion, a PE ratio of 71.38 and a beta of 0.88. The Descartes Systems Group Inc. has a 1-year low of $89.00 and a 1-year high of $124.31. The business's fifty day simple moving average is $103.37 and its 200 day simple moving average is $110.54.
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 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
The Descartes Systems Group Company Profile
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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.
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