Artisan Partners Limited Partnership Sells 104,200 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Artisan Partners Limited Partnership lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 257,935 shares of the technology company’s stock after selling 104,200 shares during the period. Artisan Partners Limited Partnership owned approximately 0.30% of The Descartes Systems Group worth $29,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. National Bank of Canada FI boosted its stake in 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 worth $71,911,000 after acquiring an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of The Descartes Systems Group by 104.5% during the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of The Descartes Systems Group during the fourth quarter worth $19,392,000. Allspring Global Investments Holdings LLC grew its holdings in shares of 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, Hillsdale Investment Management Inc. increased its position in shares of 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 valued at $8,754,000 after buying an additional 77,060 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DSGX has been the subject of a number of research analyst reports. Barclays decreased their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Finally, BMO Capital Markets dropped their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $100.24 on Friday. The stock has a 50 day moving average price of $110.36 and a 200 day moving average price of $110.23. The stock has a market capitalization of $8.58 billion, a PE ratio of 63.04 and a beta of 0.99. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The company 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%. As a group, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Company 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.