Riverbridge Partners LLC Reduces Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Riverbridge Partners LLC cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 800,923 shares of the technology company’s stock after selling 65,270 shares during the period. Riverbridge Partners LLC’s holdings in The Descartes Systems Group were worth $90,985,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Conestoga Capital Advisors LLC raised its holdings in The Descartes Systems Group by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after purchasing an additional 52,485 shares during the last quarter. Fiera Capital Corp grew its position in The Descartes Systems Group by 0.8% during the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after acquiring an additional 19,817 shares during the period. Mackenzie Financial Corp increased 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 worth $206,807,000 after acquiring an additional 91,301 shares in the last quarter. Geneva Capital Management LLC grew its stake in shares of The Descartes Systems Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock valued at $152,037,000 after buying an additional 19,002 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in The Descartes Systems Group by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after buying an additional 40,807 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $120.41 on Thursday. The firm has a fifty day moving average of $115.69 and a 200-day moving average of $106.75. The Descartes Systems Group Inc. has a 52-week low of $84.12 and a 52-week high of $122.88. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of 75.73 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DSGX. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets boosted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Scotiabank lifted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Five 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.92.

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.