Daiwa Securities Group Inc. Sells 210 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Daiwa Securities Group Inc. trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,120 shares of the technology company’s stock after selling 210 shares during the period. Daiwa Securities Group Inc.’s holdings in The Descartes Systems Group were worth $218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ellsworth Advisors LLC bought a new stake in The Descartes Systems Group in the second quarter worth $527,000. Plato Investment Management Ltd bought a new stake in shares of The Descartes Systems Group in the 3rd quarter worth about $2,308,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of The Descartes Systems Group by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after acquiring an additional 9,768 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of The Descartes Systems Group by 8.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock worth $57,514,000 after purchasing an additional 47,481 shares during the period. Finally, Fiera Capital Corp grew its holdings in The Descartes Systems Group by 3.3% during the 2nd quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after purchasing an additional 81,263 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DSGX shares. Scotiabank boosted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 24th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a report on Friday, November 15th. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, BMO Capital Markets upped their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $110.75.

The Descartes Systems Group Stock Up 0.5 %

Shares of DSGX stock opened at $116.87 on Monday. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 78.97 and a beta of 0.97. The Descartes Systems Group Inc. has a 52-week low of $79.21 and a 52-week high of $118.49. The company’s 50 day moving average is $108.20 and its 200 day moving average is $101.42.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. Analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

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.