The Descartes Systems Group Inc. $DSGX Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.9% in the third quarter, HoldingsChannel.com reports. The firm owned 483,976 shares of the technology company’s stock after selling 58,941 shares during the period. GW&K Investment Management LLC’s holdings in The Descartes Systems Group were worth $45,605,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in The Descartes Systems Group during the third quarter worth $28,000. SBI Securities Co. Ltd. grew its stake in shares of The Descartes Systems Group by 77.0% in the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after buying an additional 248 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of The Descartes Systems Group by 24.8% in the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after buying an additional 131 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at $68,000. Finally, GAMMA Investing LLC lifted its stake in The Descartes Systems Group by 42.1% during the 3rd quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after acquiring an additional 262 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DSGX. Scotiabank lowered their target price on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research report on Thursday, December 4th. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $106.00 to $105.00 in a report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $114.20.

The Descartes Systems Group Trading Down 2.2%

Shares of NASDAQ:DSGX opened at $68.18 on Thursday. 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 moving average is $76.61 and its two-hundred day moving average is $87.46. The company has a market cap of $5.86 billion, a PE ratio of 38.52 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. The business had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.