The Descartes Systems Group Inc. $DSGX Stake Trimmed by Addenda Capital Inc.

Addenda Capital Inc. cut its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 88.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,183 shares of the technology company’s stock after selling 167,103 shares during the quarter. Addenda Capital Inc.’s holdings in The Descartes Systems Group were worth $1,996,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of The Descartes Systems Group by 3.9% in the 1st quarter. HighTower Advisors LLC now owns 11,710 shares of the technology company’s stock valued at $1,181,000 after acquiring an additional 444 shares in the last quarter. American Century Companies Inc. raised its stake in The Descartes Systems Group by 5.9% during the 1st quarter. American Century Companies Inc. now owns 223,925 shares of the technology company’s stock valued at $22,543,000 after purchasing an additional 12,571 shares during the period. Northern Trust Corp raised its stake in The Descartes Systems Group by 39.0% during the 1st quarter. Northern Trust Corp now owns 112,262 shares of the technology company’s stock valued at $11,319,000 after purchasing an additional 31,525 shares during the period. Korea Investment CORP lifted its holdings in shares of The Descartes Systems Group by 4.3% in the first quarter. Korea Investment CORP now owns 44,101 shares of the technology company’s stock valued at $4,439,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of The Descartes Systems Group by 30.2% in the 1st quarter. Wellington Management Group LLP now owns 10,357 shares of the technology company’s stock valued at $1,042,000 after purchasing an additional 2,400 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DSGX has been the topic of a number of recent research reports. TD Cowen restated a “buy” rating and set a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. Barclays lowered their target price on shares of The Descartes Systems Group from $108.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 4th. BMO Capital Markets reduced their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a research report on Thursday, December 4th. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.30.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $88.97 on Friday. The Descartes Systems Group Inc. has a 52 week low of $78.88 and a 52 week high of $124.31. The firm has a market capitalization of $7.65 billion, a P/E ratio of 50.27 and a beta of 0.74. The company has a 50-day simple moving average of $88.59 and a 200-day simple moving average of $97.13.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The business had revenue of $186.78 million for the quarter, compared to analyst estimates of $184.24 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.