State of Tennessee Department of Treasury Sells 4,204 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

State of Tennessee Department of Treasury decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 10.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 35,142 shares of the technology company's stock after selling 4,204 shares during the quarter. State of Tennessee Department of Treasury's holdings in The Descartes Systems Group were worth $3,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in The Descartes Systems Group by 14.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock worth $96,000 after purchasing an additional 108 shares in the last quarter. GeoWealth Management LLC grew its stake in The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after buying an additional 132 shares in the last quarter. Mather Group LLC. grew its stake in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after buying an additional 181 shares in the last quarter. Allworth Financial LP grew its stake in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock worth $77,000 after buying an additional 182 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in The Descartes Systems Group by 1.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock worth $2,677,000 after buying an additional 222 shares in the last quarter. Institutional investors own 77.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Scotiabank upped their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. Royal Bank of Canada reissued an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. Barclays dropped 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 report on Thursday, March 6th. Finally, BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $119.50.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock traded down $0.39 during trading on Thursday, hitting $105.00. The company's stock had a trading volume of 92,031 shares, compared to its average volume of 288,974. The company has a fifty day simple moving average of $102.67 and a two-hundred day simple moving average of $110.20. The company has a market capitalization of $8.99 billion, a PE ratio of 66.04 and a beta of 0.97. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31.

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