UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $57.59 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 19.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 559,312 shares of the technology company’s stock after selling 131,167 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in The Descartes Systems Group were worth $57,587,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Conestoga Capital Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after buying an additional 52,485 shares during the period. Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after purchasing an additional 19,817 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of The Descartes Systems Group by 4.5% in the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after purchasing an additional 91,301 shares during the last quarter. Bank of Montreal Can lifted its position in shares of The Descartes Systems Group by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock worth $147,434,000 after purchasing an additional 21,105 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its position in shares of The Descartes Systems Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after purchasing an additional 19,002 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

DSGX has been the topic of several recent analyst reports. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Royal Bank of Canada raised 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. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Scotiabank raised their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $116.02 on Wednesday. The company’s fifty day moving average is $108.71 and its 200-day moving average is $101.68. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $118.49. The company has a market capitalization of $9.92 billion, a PE ratio of 78.39 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The firm had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same quarter last year, the firm earned $0.32 earnings per share. The Descartes Systems Group’s quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

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.