Riverbridge Partners LLC Sells 54,400 Shares of The Descartes Systems Group Inc. $DSGX

Riverbridge Partners LLC decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 534,345 shares of the technology company’s stock after selling 54,400 shares during the period. Riverbridge Partners LLC’s holdings in The Descartes Systems Group were worth $46,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in shares of The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after buying an additional 98,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of The Descartes Systems Group by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock worth $5,507,000 after acquiring an additional 660 shares during the period. Intech Investment Management LLC grew its stake in shares of The Descartes Systems Group by 68.9% during the 2nd quarter. Intech Investment Management LLC now owns 6,214 shares of the technology company’s stock worth $630,000 after acquiring an additional 2,535 shares during the period. Legal & General Group Plc increased its holdings in The Descartes Systems Group by 7.9% in the 2nd quarter. Legal & General Group Plc now owns 273,069 shares of the technology company’s stock worth $27,685,000 after acquiring an additional 20,030 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in The Descartes Systems Group in the 2nd quarter worth about $68,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Up 2.3%

Shares of NASDAQ DSGX opened at $71.64 on Friday. The company has a market cap of $6.16 billion, a P/E ratio of 38.52 and a beta of 0.77. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35. The business has a 50-day simple moving average of $71.58 and a two-hundred day simple moving average of $84.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The firm had revenue of $192.37 million for the quarter, compared to analysts’ expectations of $188.09 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DSGX shares. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Scotiabank reduced their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. Canaccord Genuity Group lowered their price target on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Barclays dropped their price target on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Finally, Raymond James Financial raised shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.64.

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.