Artisan Partners Limited Partnership Has $29.28 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Artisan Partners Limited Partnership cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 28.8% in the 4th quarter, HoldingsChannel reports. The fund owned 257,935 shares of the technology company’s stock after selling 104,200 shares during the quarter. Artisan Partners Limited Partnership’s holdings in The Descartes Systems Group were worth $29,283,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DSGX. Mather Group LLC. lifted its holdings 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in The Descartes Systems Group during the 4th quarter worth $43,000. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth $54,000. GAMMA Investing LLC boosted its position in shares of The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after acquiring an additional 495 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

DSGX stock opened at $100.24 on Friday. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 63.04 and a beta of 0.99. The company has a 50 day simple moving average of $110.36 and a 200 day simple moving average of $110.23. The Descartes Systems Group Inc. has a 1 year low of $87.20 and a 1 year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced 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 company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday. Stephens reduced their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. BMO Capital Markets dropped their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. TD Securities increased their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, CIBC dropped their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.50.

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.