Russell Investments Group Ltd. Sells 30,678 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Russell Investments Group Ltd. lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 12.0% in the fourth quarter, Holdings Channel reports. The firm owned 224,919 shares of the technology company’s stock after selling 30,678 shares during the period. Russell Investments Group Ltd.’s holdings in The Descartes Systems Group were worth $25,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in DSGX. Wells Fargo & Company MN lifted its stake in shares of The Descartes Systems Group by 42.9% in the fourth quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company’s stock worth $748,000 after buying an additional 1,977 shares during the last quarter. Quantum Capital Management LLC NJ acquired a new position in The Descartes Systems Group during the 4th quarter worth $14,961,000. George Kaiser Family Foundation acquired a new position in The Descartes Systems Group during the 4th quarter worth $3,928,000. Nicolet Advisory Services LLC boosted its holdings in The Descartes Systems Group by 11.0% during the fourth quarter. Nicolet Advisory Services LLC now owns 6,088 shares of the technology company’s stock valued at $678,000 after acquiring an additional 603 shares during the period. Finally, Huntington National Bank grew its position in shares of The Descartes Systems Group by 146.4% in the fourth quarter. Huntington National Bank now owns 1,067 shares of the technology company’s stock valued at $121,000 after purchasing an additional 634 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

DSGX has been the subject of several recent analyst reports. Loop Capital started coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Stephens reduced their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Barclays dropped their target price 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, March 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. Finally, Scotiabank raised their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on 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 Down 1.9 %

Shares of DSGX stock opened at $94.15 on Wednesday. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 59.21 and a beta of 0.97. The Descartes Systems Group Inc. has a 12 month low of $87.20 and a 12 month high of $124.31. The stock has a 50-day moving average price of $107.23 and a 200 day moving average price of $110.26.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.