Envestnet Asset Management Inc. Has $19.48 Million Stock Position in The Descartes Systems Group Inc. $DSGX

Envestnet Asset Management Inc. trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 206,757 shares of the technology company’s stock after selling 21,513 shares during the quarter. Envestnet Asset Management Inc. owned about 0.24% of The Descartes Systems Group worth $19,483,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of The Descartes Systems Group by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after acquiring an additional 98,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in The Descartes Systems Group by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after purchasing an additional 660 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of The Descartes Systems Group by 60.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,692 shares of the technology company’s stock valued at $1,392,000 after purchasing an additional 5,184 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of The Descartes Systems Group by 1.9% in the 2nd quarter. Ritholtz Wealth Management now owns 6,540 shares of the technology company’s stock valued at $665,000 after purchasing an additional 125 shares during the last quarter. Finally, Vista Finance LLC raised its holdings in shares of The Descartes Systems Group by 4.0% during the 2nd quarter. Vista Finance LLC now owns 3,245 shares of the technology company’s stock worth $330,000 after buying an additional 126 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DSGX shares. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $106.00 to $105.00 in a report on Monday, January 12th. Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a report on Thursday, December 4th. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Monday, December 1st. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Finally, BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Trading Up 1.6%

NASDAQ:DSGX opened at $65.74 on Friday. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The firm’s 50 day moving average is $82.92 and its 200 day moving average is $90.76. The stock has a market capitalization of $5.65 billion, a PE ratio of 37.14 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company 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 company posted $0.42 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.