The Descartes Systems Group Inc. $DSGX Shares Sold by Praesidium Investment Management Company LLC

Praesidium Investment Management Company LLC decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 34.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,188 shares of the technology company’s stock after selling 85,652 shares during the quarter. The Descartes Systems Group comprises about 2.7% of Praesidium Investment Management Company LLC’s investment portfolio, making the stock its 11th biggest position. Praesidium Investment Management Company LLC owned about 0.19% of The Descartes Systems Group worth $14,568,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DSGX. AXA S.A. boosted its holdings in The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after acquiring an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC raised its position in The Descartes Systems Group by 0.3% in the third quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after purchasing an additional 140 shares during the period. Orion Porfolio Solutions LLC raised its position in The Descartes Systems Group by 4.1% in the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after purchasing an additional 143 shares during the period. PCJ Investment Counsel Ltd. raised its position in The Descartes Systems Group by 0.3% in the third quarter. PCJ Investment Counsel Ltd. now owns 48,080 shares of the technology company’s stock valued at $4,529,000 after purchasing an additional 150 shares during the period. Finally, GAMMA Investing LLC raised its position in The Descartes Systems Group by 18.7% in the fourth quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the topic of several research reports. Raymond James Financial cut their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Morgan Stanley cut their price objective on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their price objective for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Canadian Imperial Bank of Commerce raised their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $72.97 on Friday. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 36.49 and a beta of 0.64. The stock’s 50-day simple moving average is $71.85 and its 200-day simple moving average is $76.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current year.

The Descartes Systems Group 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.