Granite Investment Partners LLC Decreases Stock Holdings in The Descartes Systems Group Inc. $DSGX

Granite Investment Partners LLC decreased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 50.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,195 shares of the technology company’s stock after selling 16,530 shares during the period. Granite Investment Partners LLC’s holdings in The Descartes Systems Group were worth $1,526,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Ritholtz Wealth Management raised its stake in The Descartes Systems Group by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock valued at $627,000 after buying an additional 114 shares during the last quarter. AXA S.A. boosted its stake in shares of The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after buying an additional 130 shares during the last quarter. Versant Capital Management Inc grew its holdings 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 worth $62,000 after acquiring an additional 131 shares during the period. Orion Porfolio Solutions LLC increased its position in The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after acquiring an additional 143 shares during the last quarter. Finally, Wealth Alliance LLC lifted its holdings in The Descartes Systems Group by 7.1% in the second quarter. Wealth Alliance LLC now owns 2,461 shares of the technology company’s stock valued at $250,000 after acquiring an additional 164 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 6.4%

The Descartes Systems Group stock opened at $62.82 on Tuesday. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $117.35. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 35.49 and a beta of 0.75. The firm has a 50 day moving average of $79.78 and a 200 day moving average of $88.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million during the quarter, compared to analyst estimates 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 was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Canadian Imperial Bank of Commerce reduced their target price on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Finally, Raymond James Financial upgraded 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 note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, The Descartes Systems Group has a consensus rating of “Buy” and a consensus price target 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.