Congress Asset Management Co. Has $124.77 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Congress Asset Management Co. trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,211,852 shares of the technology company’s stock after selling 9,736 shares during the quarter. Congress Asset Management Co. owned about 1.42% of The Descartes Systems Group worth $124,772,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. boosted its holdings in The Descartes Systems Group by 7.0% during the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after acquiring an additional 11,025 shares during the period. Russell Investments Group Ltd. boosted its holdings in The Descartes Systems Group by 3.4% during the first quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock valued at $24,043,000 after acquiring an additional 8,722 shares during the period. Ellsworth Advisors LLC bought a new stake in The Descartes Systems Group during the second quarter valued at about $527,000. TD Asset Management Inc boosted its holdings in The Descartes Systems Group by 6.2% during the first quarter. TD Asset Management Inc now owns 820,432 shares of the technology company’s stock valued at $75,114,000 after acquiring an additional 47,949 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in The Descartes Systems Group by 527.7% during the first quarter. Acadian Asset Management LLC now owns 59,000 shares of the technology company’s stock valued at $5,398,000 after acquiring an additional 49,600 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DSGX shares. Scotiabank upped their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of The Descartes Systems Group in a report on Thursday, September 5th. Barclays raised their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a report on Thursday, September 5th. Finally, BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.17.

The Descartes Systems Group Price Performance

DSGX stock traded down $2.53 during midday trading on Thursday, hitting $103.94. The company’s stock had a trading volume of 19,332 shares, compared to its average volume of 150,246. The Descartes Systems Group Inc. has a twelve month low of $70.92 and a twelve month high of $108.02. The company’s fifty day moving average price is $101.88 and its 200 day moving average price is $98.40. The stock has a market capitalization of $8.87 billion, a P/E ratio of 76.05 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Equities analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

About The Descartes Systems Group

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.