The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,951 shares of the technology company’s stock after selling 300 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in The Descartes Systems Group were worth $1,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of The Descartes Systems Group by 3.1% during the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after purchasing an additional 40,807 shares during the last quarter. National Bank of Canada FI increased its position in The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after buying an additional 556,408 shares during the period. Lord Abbett & CO. LLC lifted its stake in The Descartes Systems Group by 12.1% in the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after buying an additional 72,501 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of The Descartes Systems Group by 18.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock valued at $75,498,000 after acquiring an additional 102,208 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in shares of The Descartes Systems Group by 3.6% during the third quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company’s stock worth $60,248,000 after acquiring an additional 20,205 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Stephens lowered their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. BMO Capital Markets lowered their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Finally, Loop Capital started coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Trading Up 1.1 %

DSGX stock opened at $101.15 on Friday. The company’s 50-day moving average price is $111.47 and its 200 day moving average price is $110.10. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31. The company has a market cap of $8.66 billion, a P/E ratio of 63.62 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, equities research analysts expect 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.