DF Dent & Co. Inc. Sells 9,118 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

DF Dent & Co. Inc. decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 270,557 shares of the technology company’s stock after selling 9,118 shares during the period. DF Dent & Co. Inc.’s holdings in The Descartes Systems Group were worth $30,735,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DSGX. Vanguard Group Inc. raised its holdings in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock valued at $375,047,000 after buying an additional 54,341 shares during the last quarter. Franklin Resources Inc. increased its position in shares of The Descartes Systems Group by 23.9% in the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after acquiring an additional 639,848 shares during the last quarter. Norges Bank purchased a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $126,918,000. Finally, TD Asset Management Inc. grew its stake in shares of The Descartes Systems Group by 3.2% in the fourth quarter. TD Asset Management Inc. now owns 899,762 shares of the technology company’s stock worth $102,224,000 after purchasing an additional 28,204 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on DSGX. Loop Capital initiated coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. BMO Capital Markets decreased their target price on 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. Barclays cut their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. TD Securities upped their price objective on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Stephens cut their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Five 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Stock Performance

DSGX stock opened at $104.01 on Thursday. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 65.42 and a beta of 0.99. The firm has a 50 day moving average price of $109.40 and a 200-day moving average price of $110.42. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.