The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,951 shares of the technology company’s stock after selling 300 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in The Descartes Systems Group were worth $1,017,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Mather Group LLC. increased its position in 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $43,000. Trust Co. of Vermont purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $54,000. GAMMA Investing LLC lifted its stake in shares of The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the period. Finally, Allworth Financial LP grew its stake in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 1.1 %

Shares of NASDAQ:DSGX opened at $101.15 on Friday. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 63.62 and a beta of 0.99. The company has a 50 day moving average of $111.47 and a two-hundred day moving average of $110.10. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DSGX shares. Barclays reduced their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Scotiabank upped their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. CIBC reduced their target price on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Stephens cut their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.33.

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.