The Descartes Systems Group Inc. $DSGX Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 483,976 shares of the technology company’s stock after selling 58,941 shares during the quarter. GW&K Investment Management LLC owned approximately 0.56% of The Descartes Systems Group worth $45,605,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DSGX. Norges Bank acquired a new stake in The Descartes Systems Group during the 2nd quarter worth $117,678,000. Temasek Holdings Private Ltd purchased a new stake in shares of The Descartes Systems Group during the second quarter worth $91,155,000. CIBC Asset Management Inc raised its position in shares of The Descartes Systems Group by 275.4% in the second quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company’s stock valued at $85,085,000 after buying an additional 613,009 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of The Descartes Systems Group in the second quarter worth about $48,378,000. Finally, Westfield Capital Management Co. LP boosted its position in The Descartes Systems Group by 54.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock worth $94,355,000 after acquiring an additional 351,700 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on DSGX. BMO Capital Markets cut their price objective 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. Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research report on Monday, December 1st. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Scotiabank lowered their price objective on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. Finally, Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a research note on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $114.20.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $68.18 on Thursday. The stock has a 50 day moving average of $76.61 and a 200 day moving average of $87.46. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 38.52 and a beta of 0.77. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $117.35.

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

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.