FIL Ltd Sells 26,897 Shares of The Descartes Systems Group Inc. (DSGX)

FIL Ltd decreased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 972,648 shares of the company’s stock after selling 26,897 shares during the period. FIL Ltd’s holdings in The Descartes Systems Group were worth $20,815,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in The Descartes Systems Group by 36.7% in the fourth quarter. FMR LLC now owns 129,690 shares of the company’s stock valued at $2,766,000 after buying an additional 34,790 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in The Descartes Systems Group during the fourth quarter valued at $1,437,000. Dorsey Asset Management LLC bought a new stake in The Descartes Systems Group during the fourth quarter valued at $16,046,000. Woodmont Investment Counsel LLC increased its stake in The Descartes Systems Group by 10.4% in the third quarter. Woodmont Investment Counsel LLC now owns 15,879 shares of the company’s stock valued at $342,000 after buying an additional 1,500 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in The Descartes Systems Group during the third quarter valued at $42,327,000. 78.96% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

The Descartes Systems Group Inc. (NASDAQ:DSGX) traded down 0.23% during mid-day trading on Friday, hitting $22.00. 2,005 shares of the stock traded hands. The stock has a market cap of $1.67 billion, a PE ratio of 73.33 and a beta of 0.61. The Descartes Systems Group Inc. has a 12-month low of $16.06 and a 12-month high of $22.90. The company has a 50 day moving average of $21.71 and a 200-day moving average of $21.25.

The Descartes Systems Group (NASDAQ:DSGX) last posted its quarterly earnings data on Wednesday, November 30th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The Descartes Systems Group had a net margin of 11.63% and a return on equity of 5.56%. The business earned $51.50 million during the quarter. Equities research analysts forecast that The Descartes Systems Group Inc. will post $0.33 earnings per share for the current year.

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Several analysts have weighed in on the stock. RBC Capital Markets reissued an “outperform” rating and set a $34.00 target price on shares of The Descartes Systems Group in a research report on Monday, November 28th. Canaccord Genuity reissued a “buy” rating and set a $26.00 target price on shares of The Descartes Systems Group in a research report on Thursday, December 1st. BMO Capital Markets reaffirmed a “hold” rating on shares of The Descartes Systems Group in a report on Wednesday, November 30th. Zacks Investment Research raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday. Finally, TD Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of The Descartes Systems Group in a report on Friday, December 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.89.

The Descartes Systems Group Company Profile

Descartes Systems Group Inc (Descartes) is a global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. The Company’s network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

5 Day Chart for NASDAQ:DSGX

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