Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in The Descartes Systems Group Inc. $DSGX

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 42,305 shares of the technology company’s stock after selling 13,250 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in The Descartes Systems Group were worth $3,027,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in The Descartes Systems Group in the fourth quarter valued at $100,405,000. Morgan Stanley grew its holdings in The Descartes Systems Group by 97.2% in the 4th quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock valued at $138,888,000 after buying an additional 780,857 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of The Descartes Systems Group by 74.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after acquiring an additional 743,104 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of The Descartes Systems Group by 119.2% during the 3rd quarter. Bank of America Corp DE now owns 642,817 shares of the technology company’s stock worth $60,573,000 after acquiring an additional 349,517 shares during the period. Finally, SEB Asset Management AB acquired a new stake in shares of The Descartes Systems Group in the first quarter worth approximately $22,805,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DSGX shares. Raymond James Financial dropped their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Loop Capital reiterated a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Canadian Imperial Bank of Commerce boosted their target price on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th. Finally, Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.54.

The Descartes Systems Group Stock Down 4.4%

Shares of The Descartes Systems Group stock opened at $74.55 on Friday. The firm has a market cap of $6.39 billion, a P/E ratio of 37.27 and a beta of 0.64. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00. The business has a 50-day moving average price of $71.99 and a 200 day moving average price of $71.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The Descartes Systems Group’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share 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.