The Descartes Systems Group Inc. $DSGX Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 946,596 shares of the technology company’s stock after selling 42,628 shares during the period. TD Asset Management Inc’s holdings in The Descartes Systems Group were worth $89,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DSGX. Goldman Sachs Group Inc. boosted its holdings in The Descartes Systems Group by 35.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after acquiring an additional 98,054 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of The Descartes Systems Group by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after purchasing an additional 660 shares during the period. Bessemer Group Inc. boosted its stake in shares of The Descartes Systems Group by 4.0% in the second quarter. Bessemer Group Inc. now owns 245,286 shares of the technology company’s stock valued at $24,930,000 after purchasing an additional 9,407 shares during the period. Atria Investments Inc grew its holdings in shares of The Descartes Systems Group by 15.2% in the second quarter. Atria Investments Inc now owns 9,773 shares of the technology company’s stock valued at $993,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Geneva Capital Management LLC increased its stake in The Descartes Systems Group by 7.2% during the 2nd quarter. Geneva Capital Management LLC now owns 1,573,535 shares of the technology company’s stock worth $159,942,000 after buying an additional 105,614 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $64.66 on Thursday. The business has a 50-day moving average of $78.75 and a two-hundred day moving average of $88.54. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 36.53 and a beta of 0.75. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The business had revenue of $186.78 million for the quarter, compared to analyst estimates of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on DSGX. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Morgan Stanley raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 15th. Scotiabank reduced their price target on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $106.00 to $105.00 in a research report on Monday, January 12th. Finally, TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $114.20.

About The Descartes Systems Group

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.