Riverbridge Partners LLC Sells 65,270 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Riverbridge Partners LLC reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 800,923 shares of the technology company’s stock after selling 65,270 shares during the period. Riverbridge Partners LLC owned approximately 0.94% of The Descartes Systems Group worth $90,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Jane Street Group LLC grew its position in The Descartes Systems Group by 20.4% in the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after acquiring an additional 2,250 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of The Descartes Systems Group in the 3rd quarter worth approximately $2,308,000. Massachusetts Financial Services Co. MA increased its position 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 valued at $48,456,000 after purchasing an additional 9,768 shares during the last quarter. Barclays PLC raised its holdings in The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after buying an additional 270 shares during the period. Finally, Geode Capital Management LLC raised its holdings in The Descartes Systems Group by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock valued at $50,277,000 after buying an additional 46,523 shares during the period. 77.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DSGX shares. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Scotiabank raised 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. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Finally, National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a report on Thursday, September 26th. Five equities 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. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $120.41 on Thursday. The stock’s fifty day moving average is $115.69 and its two-hundred day moving average is $106.75. The Descartes Systems Group Inc. has a fifty-two week low of $84.12 and a fifty-two week high of $122.88. The firm has a market capitalization of $10.30 billion, a P/E ratio of 75.73 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, sell-side analysts forecast 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 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.