UniSuper Management Pty Ltd Sells 997 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

UniSuper Management Pty Ltd decreased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 38.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600 shares of the technology company’s stock after selling 997 shares during the period. UniSuper Management Pty Ltd’s holdings in The Descartes Systems Group were worth $182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC grew its stake in The Descartes Systems Group by 2.8% in the third quarter. FMR LLC now owns 150,654 shares of the technology company’s stock valued at $15,503,000 after purchasing an additional 4,067 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at approximately $352,000. BNP Paribas Financial Markets bought a new position in shares of The Descartes Systems Group in the third quarter valued at $926,000. Verition Fund Management LLC bought a new stake in The Descartes Systems Group during the third quarter worth $313,000. Finally, Reynders McVeigh Capital Management LLC lifted its stake in The Descartes Systems Group by 2.7% in the third quarter. Reynders McVeigh Capital Management LLC now owns 45,330 shares of the technology company’s stock valued at $4,667,000 after acquiring an additional 1,205 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

DSGX has been the topic of several recent analyst reports. CIBC lowered their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Loop Capital assumed 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 on the stock. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. TD Securities increased their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays reduced their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.50.

The Descartes Systems Group Stock Up 0.6 %

Shares of NASDAQ:DSGX opened at $100.83 on Tuesday. The Descartes Systems Group Inc. has a 12-month low of $87.20 and a 12-month high of $124.31. The company’s 50 day moving average price is $110.06 and its two-hundred day moving average price is $110.44. The firm has a market cap of $8.63 billion, a PE ratio of 63.42 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly 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 business had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

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.