The Descartes Systems Group Inc. $DSGX Position Reduced by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 20.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,159 shares of the technology company’s stock after selling 14,250 shares during the period. Cumberland Partners Ltd owned about 0.07% of The Descartes Systems Group worth $5,286,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mather Group LLC. acquired a new position in The Descartes Systems Group in the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of The Descartes Systems Group by 77.0% in the second quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after purchasing an additional 248 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of The Descartes Systems Group by 24.8% in the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after buying an additional 131 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of The Descartes Systems Group in the second quarter worth $68,000. Finally, GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 42.1% during the third quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock valued at $83,000 after buying an additional 262 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 1.1%

Shares of DSGX opened at $65.95 on Thursday. The company’s fifty day moving average is $81.30 and its 200-day moving average is $89.92. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 37.26 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The Descartes Systems Group’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DSGX has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Zacks Research raised shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $106.00 to $105.00 in a report on Monday, January 12th. Morgan Stanley upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. 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 target price for the company in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Profile

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.