Cidel Asset Management Inc. Reduces Stock Position in The Descartes Systems Group Inc. $DSGX

Cidel Asset Management Inc. cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 63.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,048 shares of the technology company’s stock after selling 93,812 shares during the period. Cidel Asset Management Inc. owned 0.06% of The Descartes Systems Group worth $4,748,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Crown Oak Advisors LLC lifted its position in shares of The Descartes Systems Group by 1.6% during the fourth quarter. Crown Oak Advisors LLC now owns 43,559 shares of the technology company’s stock worth $3,818,000 after acquiring an additional 702 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of The Descartes Systems Group by 43.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,129 shares of the technology company’s stock valued at $800,000 after purchasing an additional 2,766 shares in the last quarter. Louisbourg Investments Inc. raised its stake in shares of The Descartes Systems Group by 92.4% during the 4th quarter. Louisbourg Investments Inc. now owns 71,863 shares of the technology company’s stock valued at $6,313,000 after purchasing an additional 34,515 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in The Descartes Systems Group by 3.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,820 shares of the technology company’s stock worth $510,000 after purchasing an additional 195 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in The Descartes Systems Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 32,139 shares of the technology company’s stock worth $2,823,000 after purchasing an additional 639 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on DSGX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Zacks Research lowered shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Scotiabank reduced their price objective on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. Finally, Morgan Stanley lowered their target price on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.64.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $71.42 on Monday. The stock has a market cap of $6.14 billion, a P/E ratio of 38.40 and a beta of 0.71. The business’s 50-day moving average price is $69.98 and its two-hundred day moving average price is $82.65. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $192.37 million during the quarter, compared to analyst estimates of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The Descartes Systems Group’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

The Descartes Systems Group Company 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.