The Descartes Systems Group Inc. (NASDAQ:DSGX) Position Reduced by Claret Asset Management Corp

Claret Asset Management Corp decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,544 shares of the technology company’s stock after selling 200 shares during the quarter. Claret Asset Management Corp’s holdings in The Descartes Systems Group were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in The Descartes Systems Group by 14.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock valued at $96,000 after buying an additional 108 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after buying an additional 132 shares during the last quarter. Mather Group LLC. boosted its holdings in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. Allworth Financial LP increased its position in shares of The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in The Descartes Systems Group by 1.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock valued at $2,677,000 after buying an additional 222 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Down 0.8 %

Shares of DSGX stock opened at $102.32 on Friday. The stock has a 50-day moving average of $104.73 and a 200-day moving average of $110.12. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 64.35 and a beta of 0.97. The Descartes Systems Group Inc. has a 1-year low of $89.00 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) 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 firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DSGX. Scotiabank raised their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday, March 28th. CIBC decreased their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Stephens cut their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets decreased their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

The Descartes Systems Group 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.