The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGXFree Report) (TSE:DSG) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,335,250 shares of the technology company’s stock after selling 119,224 shares during the quarter. The Descartes Systems Group comprises about 2.2% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 17th largest position. JARISLOWSKY FRASER Ltd owned approximately 0.05% of The Descartes Systems Group worth $366,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of The Descartes Systems Group by 19.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock worth $228,000 after buying an additional 500 shares in the last quarter. Signaturefd LLC lifted its holdings in The Descartes Systems Group by 26.7% in the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after purchasing an additional 147 shares in the last quarter. Versor Investments LP purchased a new position in shares of The Descartes Systems Group during the 3rd quarter worth about $253,000. Cidel Asset Management Inc. lifted its holdings in shares of The Descartes Systems Group by 13.6% during the 3rd quarter. Cidel Asset Management Inc. now owns 90,487 shares of the technology company’s stock worth $6,672,000 after acquiring an additional 10,836 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of The Descartes Systems Group by 20.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 12,644 shares of the technology company’s stock worth $928,000 after acquiring an additional 2,152 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on DSGX shares. CIBC upgraded shares of The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and increased their price objective for the stock from $96.50 to $101.00 in a report on Tuesday, April 16th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. TD Securities increased their price objective on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Royal Bank of Canada increased their price objective on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. Finally, William Blair reissued an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.30.

Check Out Our Latest Report on DSGX

The Descartes Systems Group Stock Up 1.2 %

Shares of The Descartes Systems Group stock traded up $1.22 on Monday, hitting $100.23. 131,000 shares of the company’s stock traded hands, compared to its average volume of 166,650. The stock has a market cap of $8.55 billion, a P/E ratio of 74.80 and a beta of 0.91. The firm’s 50-day moving average is $93.73 and its 200 day moving average is $88.05. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $100.43.

The Descartes Systems Group (NASDAQ:DSGXGet Free Report) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The firm had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $146.62 million. During the same period last year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

The Descartes Systems Group Company Profile

(Free Report)

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.

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

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