Skandinaviska Enskilda Banken AB publ Sells 7,400 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Skandinaviska Enskilda Banken AB publ lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,531 shares of the technology company’s stock after selling 7,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in The Descartes Systems Group were worth $2,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DSGX. Empowered Funds LLC grew its stake in The Descartes Systems Group by 25.0% in the third quarter. Empowered Funds LLC now owns 18,872 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 3,780 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in The Descartes Systems Group by 1.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 245,099 shares of the technology company’s stock valued at $25,235,000 after acquiring an additional 3,312 shares in the last quarter. Swiss National Bank boosted its position in The Descartes Systems Group by 1.1% during the 3rd quarter. Swiss National Bank now owns 258,324 shares of the technology company’s stock valued at $26,624,000 after acquiring an additional 2,700 shares in the last quarter. Pathstone Holdings LLC boosted its position in The Descartes Systems Group by 1.8% during the 3rd quarter. Pathstone Holdings LLC now owns 53,434 shares of the technology company’s stock valued at $5,502,000 after acquiring an additional 934 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in The Descartes Systems Group by 2.8% during the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on DSGX shares. Stephens dropped their target price on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. TD Securities increased their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. CIBC dropped their target price on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays decreased their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $99.39 on Monday. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 62.51 and a beta of 0.99. The business has a fifty day moving average of $112.73 and a 200 day moving average of $110.18. The Descartes Systems Group Inc. has a 1 year low of $87.20 and a 1 year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.