Blue Trust Inc. Trims Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Blue Trust Inc. reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 35.5% during the 4th quarter, Holdings Channel reports. The fund owned 419 shares of the technology company’s stock after selling 231 shares during the period. Blue Trust Inc.’s holdings in The Descartes Systems Group were worth $48,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC grew its stake in The Descartes Systems Group by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock worth $440,000 after acquiring an additional 117 shares during the period. Mather Group LLC. boosted its holdings in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Assetmark Inc. grew its position in shares of The Descartes Systems Group by 3.5% in the third quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after purchasing an additional 197 shares during the period. Stephens Inc. AR grew its position in shares of The Descartes Systems Group by 2.4% in the third quarter. Stephens Inc. AR now owns 10,086 shares of the technology company’s stock valued at $1,038,000 after purchasing an additional 238 shares during the period. Finally, Barclays PLC lifted its position in The Descartes Systems Group by 2.8% during the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after buying an additional 270 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

DSGX opened at $111.13 on Wednesday. The stock has a market capitalization of $9.51 billion, a PE ratio of 69.89 and a beta of 0.99. The firm’s fifty day moving average price is $115.35 and its 200 day moving average price is $109.72. The Descartes Systems Group Inc. has a 12-month low of $84.83 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the prior year, the business earned $0.31 earnings per share. On average, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DSGX. Loop Capital started coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. TD Securities increased their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada boosted their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. Finally, Stephens raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Company 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.