Zeno Equity Partners LLP Has $29.10 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Zeno Equity Partners LLP lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 256,149 shares of the technology company’s stock after selling 10,819 shares during the quarter. The Descartes Systems Group accounts for 8.7% of Zeno Equity Partners LLP’s holdings, making the stock its 7th biggest holding. Zeno Equity Partners LLP owned approximately 0.30% of The Descartes Systems Group worth $29,099,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of DSGX. Franklin Resources Inc. grew its position in The Descartes Systems Group by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after acquiring an additional 40,807 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of The Descartes Systems Group by 389.8% in the third 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. Lord Abbett & CO. LLC increased its stake in The Descartes Systems Group by 12.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after buying an additional 72,501 shares during the period. Allspring Global Investments Holdings LLC boosted its position 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 valued at $75,498,000 after buying an additional 102,208 shares during the period. Finally, Westfield Capital Management Co. LP grew its stake in The Descartes Systems Group by 3.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company’s stock worth $60,248,000 after acquiring an additional 20,205 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DSGX. Barclays reduced their price target on shares of 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. BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stephens reduced their price objective on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Scotiabank increased their target price 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. 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, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $99.15 on Wednesday. The stock has a 50-day moving average of $112.20 and a two-hundred day moving average of $110.17. The stock has a market cap of $8.49 billion, a P/E ratio of 62.36 and a beta of 0.99. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million during 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%. Analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

About The Descartes Systems Group

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.