Portside Wealth Group LLC Has $362,000 Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Portside Wealth Group LLC cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,520 shares of the technology company’s stock after selling 272 shares during the period. Portside Wealth Group LLC’s holdings in The Descartes Systems Group were worth $362,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of recent research reports. BMO Capital Markets increased their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.17.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $115.00 on Friday. The Descartes Systems Group Inc. has a 1 year low of $75.44 and a 1 year high of $115.42. The company has a market capitalization of $9.83 billion, a P/E ratio of 77.70 and a beta of 0.97. The business has a 50-day moving average of $103.29 and a two-hundred day moving average of $99.37.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced 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 company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

About The Descartes Systems Group

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.