Massachusetts Financial Services Co. MA Trims Stock Holdings in The Descartes Systems Group Inc. $DSGX

Massachusetts Financial Services Co. MA decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 35.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 399,981 shares of the technology company’s stock after selling 219,375 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.47% of The Descartes Systems Group worth $37,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in DSGX. Mather Group LLC. purchased a new position in shares of The Descartes Systems Group in the third quarter valued at $28,000. SBI Securities Co. Ltd. boosted its stake in The Descartes Systems Group by 77.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock worth $58,000 after purchasing an additional 248 shares during the period. Parallel Advisors LLC grew its holdings in The Descartes Systems Group by 35.1% during the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock valued at $59,000 after buying an additional 152 shares in the last quarter. Versant Capital Management Inc increased its position in shares of The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after buying an additional 131 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of The Descartes Systems Group by 23.2% during the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after buying an additional 117 shares during the period. 77.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DSGX shares. Scotiabank cut their price objective on shares of The Descartes Systems Group from $127.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 4th. BMO Capital Markets cut their price target on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. 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. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price target on shares of The Descartes Systems Group in a report on Friday, October 3rd. Finally, Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective on the stock in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $116.20.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $81.82 on Thursday. The Descartes Systems Group Inc. has a fifty-two week low of $78.88 and a fifty-two week high of $124.31. The stock has a market cap of $7.04 billion, a P/E ratio of 46.23 and a beta of 0.74. The firm’s fifty day moving average price is $86.51 and its 200-day moving average price is $94.55.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The company had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.