Arrowstreet Capital Limited Partnership Sells 485,105 Shares of The Descartes Systems Group Inc. $DSGX

Arrowstreet Capital Limited Partnership cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,258,157 shares of the technology company’s stock after selling 485,105 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.46% of The Descartes Systems Group worth $90,103,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after acquiring an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 period. Amundi boosted its position in The Descartes Systems Group by 74.5% during the second quarter. Amundi now owns 82,319 shares of the technology company’s stock worth $8,360,000 after purchasing an additional 35,132 shares during the period. Federated Hermes Inc. grew its holdings in The Descartes Systems Group by 25.6% during the second quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after purchasing an additional 254 shares during the last quarter. Finally, AXA S.A. grew its holdings in The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DSGX shares. Loop Capital restated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a research note on Thursday, June 4th. National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce lifted their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. Weiss Ratings upgraded shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Finally, Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $68.18 on Monday. The company’s fifty day moving average is $71.69 and its two-hundred day moving average is $72.30. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 34.09 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. During the same quarter last year, the firm earned $0.41 EPS. The Descartes Systems Group’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.