AEGON ASSET MANAGEMENT UK Plc Cuts Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

AEGON ASSET MANAGEMENT UK Plc cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 176,959 shares of the technology company’s stock after selling 7,099 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.21% of The Descartes Systems Group worth $19,861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC grew its position in The Descartes Systems Group by 2.8% during the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock valued at $440,000 after acquiring an additional 117 shares during the period. Legacy Wealth Asset Management LLC grew its holdings in shares of The Descartes Systems Group by 3.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company’s stock worth $388,000 after purchasing an additional 137 shares during the period. Assetmark Inc. increased its position in The Descartes Systems Group by 3.5% during the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock worth $601,000 after purchasing an additional 197 shares in the last quarter. Stephens Inc. AR increased its position in The Descartes Systems Group by 2.4% during the 3rd quarter. Stephens Inc. AR now owns 10,086 shares of the technology company’s stock worth $1,038,000 after purchasing an additional 238 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in The Descartes Systems Group by 12.1% in the third quarter. Signaturefd LLC now owns 2,425 shares of the technology company’s stock valued at $250,000 after buying an additional 261 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Down 0.6 %

NASDAQ:DSGX opened at $119.13 on Friday. The stock has a fifty day simple moving average of $116.00 and a 200 day simple moving average of $106.98. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 74.92 and a beta of 0.99. The Descartes Systems Group Inc. has a 1-year low of $84.12 and a 1-year high of $122.88.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. BMO Capital Markets upped their price target on shares of 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. TD Securities raised their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average 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.