BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 6,511 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 13.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,478 shares of the technology company’s stock after selling 6,511 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Descartes Systems Group were worth $4,268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. William Blair Investment Management LLC purchased a new stake in shares of The Descartes Systems Group in the second quarter worth $20,608,000. Triasima Portfolio Management inc. grew its position in The Descartes Systems Group by 90.1% during the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after purchasing an additional 120,325 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in The Descartes Systems Group during the 2nd quarter valued at about $10,503,000. American Century Companies Inc. raised its holdings in The Descartes Systems Group by 65.4% in the second quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock worth $23,640,000 after buying an additional 96,431 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake 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 worth $206,807,000 after buying an additional 91,301 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several analyst reports. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada lifted their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, National Bank Financial raised The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.75.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $116.02 on Wednesday. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 78.39 and a beta of 0.98. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $118.49. The firm has a fifty day moving average price of $108.71 and a 200-day moving average price of $101.68.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same period in the prior year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

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.