Legato Capital Management LLC Reduces Holdings in The Descartes Systems Group Inc. $DSGX

Legato Capital Management LLC cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 60.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,858 shares of the technology company’s stock after selling 7,455 shares during the period. Legato Capital Management LLC’s holdings in The Descartes Systems Group were worth $458,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The Descartes Systems Group during the second quarter worth about $117,678,000. Temasek Holdings Private Ltd acquired a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at about $91,155,000. CIBC Asset Management Inc grew its stake in The Descartes Systems Group by 275.4% during the 2nd quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company’s stock worth $85,085,000 after buying an additional 613,009 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in The Descartes Systems Group during the second quarter worth approximately $48,378,000. Finally, Westfield Capital Management Co. LP lifted its stake in The Descartes Systems Group by 54.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock valued at $94,355,000 after buying an additional 351,700 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 2.2%

Shares of The Descartes Systems Group stock opened at $68.18 on Thursday. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 38.52 and a beta of 0.77. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35. The company’s 50-day simple moving average is $76.61 and its 200-day simple moving average is $87.46.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

DSGX has been the topic of a number of research reports. Scotiabank lowered their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $106.00 to $105.00 in a research report on Monday, January 12th. Royal Bank Of Canada set a $126.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a report on Monday, December 1st. TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Finally, BMO Capital Markets dropped their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.