Legato Capital Management LLC Cuts Position in The Descartes Systems Group Inc. $DSGX

Legato Capital Management LLC lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 60.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,858 shares of the technology company’s stock after selling 7,455 shares during the period. Legato Capital Management LLC’s holdings in The Descartes Systems Group were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new position in The Descartes Systems Group in the third quarter valued at about $28,000. SBI Securities Co. Ltd. grew its holdings in shares of The Descartes Systems Group by 77.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock worth $58,000 after acquiring an additional 248 shares during the period. Versant Capital Management Inc increased its stake in The Descartes Systems Group by 24.8% in the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after purchasing an additional 131 shares in the last quarter. Employees Retirement System of Texas purchased a new position in The Descartes Systems Group in the 2nd quarter valued at approximately $68,000. Finally, GAMMA Investing LLC raised its holdings in The Descartes Systems Group by 42.1% during the third quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after purchasing an additional 262 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on DSGX. Morgan Stanley raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a report on Thursday, January 15th. 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 on the stock in a research note on Thursday, December 4th. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $106.00 to $105.00 in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Trading Down 2.2%

NASDAQ:DSGX opened at $68.18 on Thursday. 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 $5.86 billion, a price-to-earnings ratio of 38.52 and a beta of 0.77. The company’s 50-day moving average is $76.61 and its two-hundred day moving average is $87.46.

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

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.