Fenimore Asset Management Inc Cuts Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Fenimore Asset Management Inc cut its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 130,402 shares of the technology company’s stock after selling 5,255 shares during the quarter. Fenimore Asset Management Inc’s holdings in The Descartes Systems Group were worth $14,814,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Trust Co. of Vermont purchased a new position in The Descartes Systems Group in the 4th quarter worth $54,000. GAMMA Investing LLC grew its stake in shares of The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after buying an additional 587 shares during the period. Avanza Fonder AB bought a new stake in shares of The Descartes Systems Group in the 4th quarter valued at about $118,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in The Descartes Systems Group by 28.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after acquiring an additional 279 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $119.13 on Friday. The company has a 50-day simple moving average of $116.00 and a two-hundred day simple moving average of $106.98. The firm has a market capitalization of $10.19 billion, a PE ratio of 74.92 and a beta of 0.99. The Descartes Systems Group Inc. has a one year low of $84.12 and a one year high of $122.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the previous year, the firm posted $0.31 earnings per share. Analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DSGX. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. Royal Bank of Canada increased their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Loop Capital started coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group 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.