Invesco Ltd. Trims Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Invesco Ltd. cut its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 35.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 867,846 shares of the technology company’s stock after selling 483,014 shares during the period. Invesco Ltd. owned 1.01% of The Descartes Systems Group worth $98,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Mather Group LLC. boosted its stake in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $43,000. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $54,000. GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after buying an additional 495 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in The Descartes Systems Group in the 4th quarter valued at about $57,000. 77.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on DSGX shares. Stephens lowered their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Scotiabank lifted their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 26th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective on the stock. Barclays reduced their target price on shares of 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. Finally, StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $101.74 on Monday. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 63.99 and a beta of 0.97. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The stock’s fifty day moving average is $106.10 and its two-hundred day moving average is $110.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted 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 Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. As a group, sell-side analysts forecast 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.