Skandinaviska Enskilda Banken AB publ Trims Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 23,531 shares of the technology company’s stock after selling 7,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in The Descartes Systems Group were worth $2,673,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DSGX. Mather Group LLC. grew its position in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at about $43,000. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at about $54,000. GAMMA Investing LLC grew its position in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after acquiring an additional 495 shares during the period. Finally, Allworth Financial LP grew its position in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the topic of a number of analyst reports. Barclays dropped their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BMO Capital Markets lowered their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. Scotiabank lifted their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada lowered their price objective on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group Price Performance

DSGX opened at $99.39 on Monday. The company’s 50 day simple moving average is $112.73 and its two-hundred day simple moving average is $110.18. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 62.51 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

About The Descartes Systems Group

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.