Daiwa Securities Group Inc. Sells 640 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Daiwa Securities Group Inc. lessened its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the technology company’s stock after selling 640 shares during the period. Daiwa Securities Group Inc.’s holdings in The Descartes Systems Group were worth $252,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Operose Advisors LLC bought a new position in The Descartes Systems Group during the 3rd quarter worth about $35,000. Signaturefd LLC increased its holdings in The Descartes Systems Group by 26.7% during the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after purchasing an additional 147 shares in the last quarter. Federated Hermes Inc. bought a new position in The Descartes Systems Group during the 3rd quarter worth about $64,000. SG Americas Securities LLC bought a new position in The Descartes Systems Group during the 4th quarter worth about $209,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in The Descartes Systems Group by 19.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock worth $228,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $94.24 on Friday. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $96.10. The company has a market capitalization of $8.03 billion, a P/E ratio of 70.33 and a beta of 0.94. The company has a 50-day simple moving average of $90.22 and a 200 day simple moving average of $84.37.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its 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 net margin of 20.23% and a return on equity of 9.80%. The business had revenue of $148.20 million during the quarter, compared to the consensus estimate of $146.62 million. During the same period last year, the business posted $0.34 EPS. The Descartes Systems Group’s revenue was up 18.5% on a year-over-year basis. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DSGX. TD Securities increased their target price on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Stephens raised their price objective on The Descartes Systems Group from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Raymond James raised their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Royal Bank of Canada restated an “outperform” rating and issued a $110.00 price objective on shares of The Descartes Systems Group in a report on Thursday, April 11th. Finally, StockNews.com upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $98.44.

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.