Bank Julius Baer & Co. Ltd Zurich Reduces Stock Position in The Descartes Systems Group Inc. $DSGX

Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 57.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,971 shares of the technology company’s stock after selling 16,474 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in The Descartes Systems Group were worth $1,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DSGX. Vanguard Group Inc. increased its holdings in shares of The Descartes Systems Group by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after acquiring an additional 69,260 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of The Descartes Systems Group by 10.2% in the 3rd quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after acquiring an additional 276,329 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of The Descartes Systems Group by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company’s stock valued at $158,507,000 after acquiring an additional 5,317 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of The Descartes Systems Group by 63.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock valued at $137,968,000 after acquiring an additional 567,386 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of The Descartes Systems Group by 54.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock valued at $94,355,000 after acquiring an additional 351,700 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DSGX shares. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $100.00 to $90.00 in a report on Thursday, April 16th. BMO Capital Markets lowered their price target on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, March 12th. Barclays lowered their price target 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. Zacks Research downgraded The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Morgan Stanley lowered their price target 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. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $105.45.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $67.70 on Friday. The company has a market cap of $5.82 billion, a P/E ratio of 36.40 and a beta of 0.65. The stock has a fifty day moving average price of $71.03 and a 200 day moving average price of $77.66. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $192.37 million during the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 2.62 earnings per share for the current year.

The Descartes Systems Group Company 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.