US Bancorp DE Lowers Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

US Bancorp DE cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,093 shares of the technology company’s stock after selling 1,411 shares during the quarter. US Bancorp DE’s holdings in The Descartes Systems Group were worth $2,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fiera Capital Corp lifted its stake in The Descartes Systems Group by 0.8% in the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after purchasing an additional 19,817 shares in the last quarter. Geneva Capital Management LLC raised its position in shares of The Descartes Systems Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock valued at $152,037,000 after buying an additional 19,002 shares in the last quarter. Franklin Resources Inc. raised its position in shares of The Descartes Systems Group by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after buying an additional 40,807 shares in the last quarter. National Bank of Canada FI raised its position in shares of The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after buying an additional 556,408 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of The Descartes Systems Group by 12.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after buying an additional 72,501 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on DSGX shares. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. CIBC lowered their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday. Scotiabank raised their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Barclays lowered their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada decreased their target price on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group Stock Down 8.3 %

Shares of The Descartes Systems Group stock opened at $101.71 on Friday. The firm has a market cap of $8.71 billion, a PE ratio of 63.97 and a beta of 0.99. The Descartes Systems Group Inc. has a 12-month low of $87.20 and a 12-month high of $124.31. The company’s fifty day simple moving average is $114.83 and its two-hundred day simple moving average is $110.17.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.