The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Zeno Equity Partners LLP

Zeno Equity Partners LLP lessened its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 256,149 shares of the technology company’s stock after selling 10,819 shares during the quarter. The Descartes Systems Group makes up 8.7% of Zeno Equity Partners LLP’s holdings, making the stock its 7th biggest position. Zeno Equity Partners LLP’s holdings in The Descartes Systems Group were worth $29,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in shares of The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after buying an additional 556,408 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in The Descartes Systems Group by 104.5% during the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock valued at $48,819,000 after purchasing an additional 219,736 shares in the last quarter. Raymond James Financial Inc. purchased a new position in The Descartes Systems Group during the fourth quarter valued at $19,392,000. Allspring Global Investments Holdings LLC increased its stake in shares of The Descartes Systems Group by 18.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after purchasing an additional 102,208 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of The Descartes Systems Group by 12.1% during the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after purchasing an additional 72,501 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 1.1 %

DSGX stock opened at $99.15 on Wednesday. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31. The business has a fifty day moving average of $112.20 and a two-hundred day moving average of $110.17. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 62.36 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $169.97 million. As a group, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DSGX shares. Barclays lowered their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. TD Securities lifted their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stephens lowered their price target on shares of 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. Finally, CIBC cut their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.33.

About The Descartes Systems Group

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.