Townsquare Capital LLC Cuts Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Townsquare Capital LLC decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,027 shares of the technology company’s stock after selling 319 shares during the period. Townsquare Capital LLC’s holdings in The Descartes Systems Group were worth $2,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DSGX. Grandeur Peak Global Advisors LLC lifted its position in The Descartes Systems Group by 3.9% during the 4th quarter. Grandeur Peak Global Advisors LLC now owns 239,725 shares of the technology company’s stock worth $27,245,000 after acquiring an additional 8,900 shares during the period. Scotia Capital Inc. lifted its stake in shares of The Descartes Systems Group by 8.4% in the 4th quarter. Scotia Capital Inc. now owns 61,695 shares of the technology company’s stock valued at $6,942,000 after purchasing an additional 4,797 shares during the period. Bessemer Group Inc. boosted its stake in shares of The Descartes Systems Group by 4.1% during the 4th quarter. Bessemer Group Inc. now owns 214,736 shares of the technology company’s stock worth $24,395,000 after acquiring an additional 8,442 shares in the last quarter. APG Asset Management US Inc. purchased a new position in The Descartes Systems Group during the fourth quarter worth approximately $306,000. Finally, Raymond James Financial Inc. acquired a new stake in The Descartes Systems Group in the 4th quarter valued at $19,392,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 2.0 %

Shares of NASDAQ DSGX opened at $103.58 on Wednesday. The stock has a market cap of $8.87 billion, a P/E ratio of 65.14 and a beta of 0.97. The stock has a 50 day moving average of $105.78 and a two-hundred day moving average of $110.22. The Descartes Systems Group Inc. has a twelve month low of $88.44 and a twelve month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

DSGX has been the subject of several research reports. Scotiabank boosted their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, March 26th. 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. BMO Capital Markets reduced their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Barclays lowered their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $119.50.

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.