The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Trust Point Inc.

Trust Point Inc. cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 22.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,346 shares of the technology company’s stock after selling 3,344 shares during the period. Trust Point Inc.’s holdings in The Descartes Systems Group were worth $1,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont purchased a new stake in The Descartes Systems Group in the fourth quarter valued at $54,000. GAMMA Investing LLC raised its holdings in shares of The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the period. Blue Trust Inc. increased its holdings in The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. R Squared Ltd acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth about $90,000. Finally, Avanza Fonder AB acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth about $118,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $115.67 on Tuesday. The stock has a fifty day moving average of $116.22 and a 200-day moving average of $107.72. The company has a market capitalization of $9.90 billion, a PE ratio of 72.75 and a beta of 0.99. The Descartes Systems Group Inc. has a one year low of $84.12 and a one year high of $122.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same quarter last year, the company earned $0.31 earnings per share. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on DSGX. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $88.00 to $125.00 in a research report on Friday, November 15th. BMO Capital Markets increased their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. Scotiabank increased their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada increased their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Company 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.