Intech Investment Management LLC Decreases Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Intech Investment Management LLC lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 54.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,824 shares of the technology company’s stock after selling 5,847 shares during the quarter. Intech Investment Management LLC’s holdings in The Descartes Systems Group were worth $548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its stake in The Descartes Systems Group by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after acquiring an additional 40,807 shares during the last quarter. National Bank of Canada FI grew its position in shares of The Descartes Systems Group by 389.8% in the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after purchasing an additional 556,408 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of The Descartes Systems Group by 12.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after purchasing an additional 72,501 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of The Descartes Systems Group by 18.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after purchasing an additional 102,208 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in The Descartes Systems Group by 3.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company’s stock valued at $60,248,000 after buying an additional 20,205 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $102.92 on Tuesday. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 64.73 and a beta of 0.99. The Descartes Systems Group Inc. has a 12 month low of $87.20 and a 12 month high of $124.31. The stock’s 50-day moving average is $111.31 and its 200-day moving average is $110.23.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. Research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

DSGX has been the subject of a number of analyst reports. Scotiabank boosted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Barclays decreased their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. CIBC cut their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Finally, Royal Bank of Canada cut their price target on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average price target of $120.33.

About The Descartes Systems Group

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.