Sanctuary Advisors LLC Lowers Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Sanctuary Advisors LLC trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,249 shares of the technology company’s stock after selling 1,270 shares during the quarter. Sanctuary Advisors LLC’s holdings in The Descartes Systems Group were worth $382,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its position in shares of The Descartes Systems Group by 2.8% in the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock worth $440,000 after acquiring an additional 117 shares during the period. Mather Group LLC. raised its position 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 worth $27,000 after purchasing an additional 181 shares during the last quarter. Allworth Financial LP raised its position 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 worth $77,000 after purchasing an additional 182 shares during the last quarter. Assetmark Inc. raised its position 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 worth $601,000 after purchasing an additional 197 shares during the last quarter. Finally, Stephens Inc. AR raised its position 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 worth $1,038,000 after purchasing an additional 238 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $110.06 on Tuesday. The firm has a 50 day simple moving average of $115.16 and a 200-day simple moving average of $110.03. The Descartes Systems Group Inc. has a 1-year low of $84.83 and a 1-year high of $124.31. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 69.22 and a beta of 0.99.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upped their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 29th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Loop Capital started coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Finally, Scotiabank increased their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average price target 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.