Homestead Advisers Corp Sells 8,700 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Homestead Advisers Corp trimmed its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,970 shares of the technology company’s stock after selling 8,700 shares during the quarter. Homestead Advisers Corp’s holdings in The Descartes Systems Group were worth $7,949,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DSGX. Mather Group LLC. lifted its stake in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $43,000. Trust Co. of Vermont purchased a new position in The Descartes Systems Group during the fourth quarter valued at approximately $54,000. GAMMA Investing LLC raised its stake in 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 worth $57,000 after buying an additional 495 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in The Descartes Systems Group during the fourth quarter worth $57,000. Institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DSGX shares. Scotiabank boosted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Royal Bank of Canada decreased their price target on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. CIBC cut their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, TD Securities lifted their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.50.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $103.59 on Thursday. The firm’s fifty day moving average is $111.17 and its two-hundred day moving average is $110.31. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 65.15 and a beta of 0.99. The Descartes Systems Group Inc. has a one year low of $87.20 and a one 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 for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.