The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Holdings Lessened by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,742 shares of the technology company’s stock after selling 13,819 shares during the period. Maryland State Retirement & Pension System owned approximately 0.07% of The Descartes Systems Group worth $4,770,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. AtonRa Partners lifted its position in The Descartes Systems Group by 1.6% during the 4th quarter. AtonRa Partners now owns 8,639 shares of the technology company’s stock worth $726,000 after acquiring an additional 137 shares during the last quarter. Signaturefd LLC grew its holdings in The Descartes Systems Group by 26.7% during the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after acquiring an additional 147 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of The Descartes Systems Group by 4.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 6,529 shares of the technology company’s stock valued at $541,000 after purchasing an additional 282 shares during the period. Federated Hermes Inc. lifted its stake in shares of The Descartes Systems Group by 48.7% in the 4th quarter. Federated Hermes Inc. now owns 1,298 shares of the technology company’s stock valued at $109,000 after purchasing an additional 425 shares during the period. Finally, Korea Investment CORP lifted its stake in shares of The Descartes Systems Group by 2.4% in the 3rd quarter. Korea Investment CORP now owns 18,480 shares of the technology company’s stock valued at $1,363,000 after purchasing an additional 432 shares during the period. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on DSGX. Raymond James raised their target price on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. BMO Capital Markets raised their target price on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. CIBC raised shares of The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the company from $96.50 to $101.00 in a research note on Tuesday, April 16th. Wolfe Research raised shares of The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, Scotiabank lifted their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company a “sector outperform” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

The Descartes Systems Group Trading Up 1.7 %

Shares of NASDAQ:DSGX traded up $1.63 during midday trading on Monday, reaching $97.11. The company had a trading volume of 136,492 shares, compared to its average volume of 169,460. The company’s 50 day moving average price is $91.21 and its 200 day moving average price is $85.37. The stock has a market cap of $8.28 billion, a P/E ratio of 71.25 and a beta of 0.91. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $97.29.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. Research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

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.