Thrivent Financial for Lutherans Reduces Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Thrivent Financial for Lutherans reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 46.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 131,949 shares of the technology company’s stock after selling 113,150 shares during the period. Thrivent Financial for Lutherans’ holdings in The Descartes Systems Group were worth $14,990,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Swiss National Bank boosted its holdings in shares of The Descartes Systems Group by 1.1% during the 3rd quarter. Swiss National Bank now owns 258,324 shares of the technology company’s stock worth $26,624,000 after purchasing an additional 2,700 shares during the last quarter. Pathstone Holdings LLC boosted its stake in The Descartes Systems Group by 1.8% during the third quarter. Pathstone Holdings LLC now owns 53,434 shares of the technology company’s stock worth $5,502,000 after buying an additional 934 shares during the last quarter. Avior Wealth Management LLC grew its holdings in The Descartes Systems Group by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after buying an additional 117 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of The Descartes Systems Group by 41.6% in the 3rd quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock worth $1,099,000 after acquiring an additional 3,134 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of The Descartes Systems Group by 2.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after acquiring an additional 9,768 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DSGX. Loop Capital initiated coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Scotiabank increased their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. BMO Capital Markets reduced 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 report on Thursday, March 6th. Finally, TD Securities increased their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.33.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $101.15 on Friday. The company has a market cap of $8.66 billion, a P/E ratio of 63.62 and a beta of 0.99. The stock has a 50-day moving average of $111.47 and a two-hundred day moving average of $110.03. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. On average, analysts anticipate 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 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.