Granite Investment Partners LLC Trims Position in The Descartes Systems Group Inc. $DSGX

Granite Investment Partners LLC lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 50.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,195 shares of the technology company’s stock after selling 16,530 shares during the quarter. Granite Investment Partners LLC’s holdings in The Descartes Systems Group were worth $1,526,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management lifted its position in shares of The Descartes Systems Group by 1.7% in the 3rd quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock worth $627,000 after purchasing an additional 114 shares during the period. AXA S.A. raised its stake 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 worth $681,000 after buying an additional 130 shares in the last quarter. Versant Capital Management Inc lifted its holdings in 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 buying an additional 131 shares during the period. Orion Porfolio Solutions LLC boosted its position in The Descartes Systems Group by 4.1% during the 2nd 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 in the last quarter. Finally, Wealth Alliance LLC grew its holdings in shares of The Descartes Systems Group by 7.1% during the 2nd quarter. Wealth Alliance LLC now owns 2,461 shares of the technology company’s stock worth $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 Stock Performance

Shares of NASDAQ DSGX opened at $62.82 on Tuesday. The company has a market cap of $5.40 billion, a PE ratio of 35.49 and a beta of 0.75. The firm’s 50 day moving average price is $79.78 and its 200-day moving average price is $88.97. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DSGX shares. Morgan Stanley raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. Zacks Research raised shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $106.00 to $105.00 in a research report on Monday, January 12th. 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 objective on the stock in a report on Thursday, December 4th. Finally, BMO Capital Markets lowered their target price 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. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $114.20.

About The Descartes Systems Group

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.