Praesidium Investment Management Company LLC Reduces Position in The Descartes Systems Group Inc. $DSGX

Praesidium Investment Management Company LLC trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 34.0% during the fourth quarter, Holdings Channel reports. The fund owned 166,188 shares of the technology company’s stock after selling 85,652 shares during the quarter. The Descartes Systems Group accounts for 2.7% of Praesidium Investment Management Company LLC’s investment portfolio, making the stock its 11th largest holding. Praesidium Investment Management Company LLC’s holdings in The Descartes Systems Group were worth $14,568,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DSGX. Norges Bank bought a new stake in The Descartes Systems Group in the fourth quarter valued at about $100,405,000. Morgan Stanley increased its holdings in The Descartes Systems Group by 97.2% in the fourth quarter. Morgan Stanley now owns 1,584,393 shares of the technology company’s stock valued at $138,888,000 after buying an additional 780,857 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in The Descartes Systems Group by 74.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,743,262 shares of the technology company’s stock valued at $152,898,000 after buying an additional 743,104 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in 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 valued at $137,968,000 after buying an additional 567,386 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in 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 valued at $94,355,000 after buying an additional 351,700 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in 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. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $100.00 to $90.00 in a report on Thursday, April 16th. Morgan Stanley lowered their price objective 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. Barclays lowered their price objective 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. Finally, Canaccord Genuity Group lowered their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.17.

The Descartes Systems Group Stock Down 0.8%

Shares of NASDAQ:DSGX opened at $72.97 on Friday. The company’s fifty day moving average is $71.85 and its two-hundred day moving average is $76.02. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $109.00. The company has a market cap of $6.27 billion, a P/E ratio of 36.49 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $166.96 million during the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The Descartes Systems Group’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share 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.