Bessemer Group Inc. Lowers Position in The Descartes Systems Group Inc. $DSGX

Bessemer Group Inc. cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 198,496 shares of the technology company’s stock after selling 86,608 shares during the quarter. Bessemer Group Inc.’s holdings in The Descartes Systems Group were worth $17,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of The Descartes Systems Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock worth $316,050,000 after purchasing an additional 69,260 shares during the last quarter. Fiera Capital Corp raised its stake in shares of The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock worth $280,123,000 after purchasing an additional 276,329 shares during the last quarter. Bank of Montreal Can raised its stake in shares of The Descartes Systems Group by 0.3% in the third quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company’s stock worth $158,507,000 after purchasing an additional 5,317 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in shares of The Descartes Systems Group by 63.3% in the third quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock worth $137,968,000 after purchasing an additional 567,386 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of The Descartes Systems Group by 54.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock worth $94,355,000 after purchasing an additional 351,700 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DSGX shares. Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Morgan Stanley reduced their target price on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. BMO Capital Markets reduced their target price on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, March 12th. Canaccord Genuity Group reduced their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Finally, Barclays reduced their target price on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.45.

The Descartes Systems Group Trading Up 0.7%

Shares of NASDAQ DSGX opened at $67.70 on Friday. The stock has a fifty day simple moving average of $71.03 and a two-hundred day simple moving average of $77.66. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $117.35. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 36.40 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data 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 business had revenue of $192.37 million during the quarter, compared to analyst estimates of $188.09 million. During the same period in the prior year, the company earned $0.43 earnings per share. The Descartes Systems Group’s revenue was up 15.1% compared to the same quarter last year. Analysts forecast that The Descartes Systems Group Inc. will post 2.62 EPS for the current year.

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.