The Descartes Systems Group Inc. (NASDAQ:DSGX) is Summit Creek Advisors LLC’s 6th Largest Position

Summit Creek Advisors LLC lessened its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,151 shares of the technology company’s stock after selling 18,238 shares during the quarter. The Descartes Systems Group accounts for approximately 3.1% of Summit Creek Advisors LLC’s holdings, making the stock its 6th biggest position. Summit Creek Advisors LLC owned approximately 0.24% of The Descartes Systems Group worth $23,419,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DSGX. National Bank of Canada FI raised its position in shares of The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after purchasing an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of The Descartes Systems Group by 104.5% in the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after purchasing an additional 219,736 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of The Descartes Systems Group in the 4th quarter worth about $19,392,000. Allspring Global Investments Holdings LLC increased its holdings in The Descartes Systems Group by 18.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after buying an additional 102,208 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in The Descartes Systems Group by 192,650.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 77,100 shares of the technology company’s stock worth $8,754,000 after buying an additional 77,060 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DSGX. Loop Capital began coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. Royal Bank of Canada reduced their price objective on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. TD Securities lifted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Barclays reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $101.15 on Monday. The company has a market cap of $8.66 billion, a P/E ratio of 63.62 and a beta of 0.99. The business’s 50 day moving average price is $111.47 and its 200-day moving average price is $110.18. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate 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, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.