Oppenheimer Asset Management Inc. Reduces Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Oppenheimer Asset Management Inc. reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,903 shares of the technology company’s stock after selling 1,483 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.05% of The Descartes Systems Group worth $5,215,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Avior Wealth Management LLC raised its holdings in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after buying an additional 117 shares during the period. Mather Group LLC. raised its holdings in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after buying an additional 181 shares during the period. Allworth Financial LP raised its holdings in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares during the period. Assetmark Inc. raised its holdings in shares of The Descartes Systems Group by 3.5% during the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock valued at $601,000 after buying an additional 197 shares during the period. Finally, Stephens Inc. AR raised its holdings in shares of The Descartes Systems Group by 2.4% during the 3rd quarter. Stephens Inc. AR now owns 10,086 shares of the technology company’s stock valued at $1,038,000 after buying an additional 238 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $111.49 on Friday. The business’s fifty day moving average price is $115.22 and its 200 day moving average price is $109.74. The Descartes Systems Group Inc. has a 12-month low of $84.83 and a 12-month high of $124.31. The stock has a market capitalization of $9.54 billion, a PE ratio of 70.12 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the prior year, the firm earned $0.31 EPS. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several analyst reports. Stephens upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Saturday, February 1st. Scotiabank increased their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Finally, Loop Capital assumed 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. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

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.