Dixon Mitchell Investment Counsel Inc. Sells 7,399 Shares of The Descartes Systems Group Inc. $DSGX

Dixon Mitchell Investment Counsel Inc. lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 331,971 shares of the technology company’s stock after selling 7,399 shares during the quarter. Dixon Mitchell Investment Counsel Inc. owned approximately 0.39% of The Descartes Systems Group worth $29,161,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DSGX. Goldman Sachs Group Inc. boosted its stake in shares of The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock valued at $38,027,000 after purchasing an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of The Descartes Systems Group by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after purchasing an additional 660 shares during the last quarter. Amundi boosted its stake in shares of The Descartes Systems Group by 74.5% in the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after purchasing an additional 35,132 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of The Descartes Systems Group by 25.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after purchasing an additional 254 shares during the last quarter. Finally, AXA S.A. boosted its stake in shares of The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $72.97 on Friday. The company has a market capitalization of $6.27 billion, a P/E ratio of 36.49 and a beta of 0.64. The company’s 50 day moving average price is $71.85 and its two-hundred day moving average price is $76.02. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The firm had revenue of $166.96 million for the quarter, compared to the consensus estimate of $193.57 million. During the same period last year, the company posted $0.41 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DSGX shares. Weiss Ratings lowered shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. Barclays reduced their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Canaccord Genuity Group reduced their price objective on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Morgan Stanley reduced their price objective on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.