The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 46,474 shares of the technology company’s stock after selling 8,639 shares during the quarter. Granahan Investment Management LLC’s holdings in The Descartes Systems Group were worth $5,279,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Mather Group LLC. lifted its holdings in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. GeoWealth Management LLC increased its holdings in shares of The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after purchasing an additional 132 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of The Descartes Systems Group in the 4th quarter valued at about $43,000. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at about $54,000. Finally, GAMMA Investing LLC boosted its holdings in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after buying an additional 495 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $107.46 on Friday. The firm has a market cap of $9.20 billion, a P/E ratio of 67.58 and a beta of 0.88. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The firm’s 50 day moving average price is $102.20 and its 200 day moving average price is $110.25.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stephens reduced their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. BMO Capital Markets lowered their price objective 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 note on Thursday, March 6th. Finally, Barclays cut their target price 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 report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.50.

The Descartes Systems Group 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.