Allspring Global Investments Holdings LLC Sells 30,980 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Allspring Global Investments Holdings LLC reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 562,926 shares of the technology company’s stock after selling 30,980 shares during the period. Allspring Global Investments Holdings LLC’s holdings in The Descartes Systems Group were worth $57,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of DSGX. Westfield Capital Management Co. LP bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at approximately $47,481,000. Price T Rowe Associates Inc. MD grew its stake in shares of The Descartes Systems Group by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after purchasing an additional 278,796 shares during the period. William Blair Investment Management LLC bought a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $20,608,000. Grandeur Peak Global Advisors LLC bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at approximately $19,264,000. Finally, Triasima Portfolio Management inc. grew its stake in shares of The Descartes Systems Group by 90.1% in the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after purchasing an additional 120,325 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Price Performance

DSGX opened at $106.50 on Tuesday. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 76.07 and a beta of 0.97. The firm has a 50 day simple moving average of $101.07 and a 200 day simple moving average of $97.72. The Descartes Systems Group Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $108.02.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on DSGX shares. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. BMO Capital Markets raised their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday, September 5th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Barclays boosted their target price on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.83.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.