The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Position Cut by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,347 shares of the technology company’s stock after selling 4,856 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.20% of The Descartes Systems Group worth $14,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of The Descartes Systems Group by 26.7% during the third quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after acquiring an additional 147 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of The Descartes Systems Group by 4.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 6,529 shares of the technology company’s stock valued at $541,000 after purchasing an additional 282 shares during the period. Korea Investment CORP raised its stake in shares of The Descartes Systems Group by 2.4% in the 3rd quarter. Korea Investment CORP now owns 18,480 shares of the technology company’s stock worth $1,363,000 after buying an additional 432 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at $35,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of The Descartes Systems Group by 19.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock valued at $228,000 after buying an additional 500 shares during the period. 77.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of research analyst reports. TD Securities upped their price target on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a research report on Thursday, March 7th. Barclays increased their price objective on The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, February 20th. Stephens lifted their target price on The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, StockNews.com raised The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.44.

The Descartes Systems Group Trading Up 1.5 %

DSGX opened at $91.64 on Tuesday. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $94.54. The stock has a fifty day moving average price of $89.72 and a 200 day moving average price of $83.95. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 68.39 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The business had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. During the same period in the previous year, the company earned $0.34 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal 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.