Summit Creek Advisors LLC Cuts Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Summit Creek Advisors LLC lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 206,151 shares of the technology company’s stock after selling 18,238 shares during the quarter. The Descartes Systems Group makes up 3.1% of Summit Creek Advisors LLC’s holdings, making the stock its 6th largest holding. Summit Creek Advisors LLC’s holdings in The Descartes Systems Group were worth $23,419,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mather Group LLC. grew its position in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of The Descartes Systems Group during the 4th quarter worth $43,000. Trust Co. of Vermont bought a new position in shares of The Descartes Systems Group during the 4th quarter worth $54,000. GAMMA Investing LLC grew its position in shares of The Descartes Systems Group by 4,950.0% during the 4th 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, Allworth Financial LP grew its position in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after buying an additional 182 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $101.15 on Monday. The company has a market cap of $8.66 billion, a PE ratio of 63.62 and a beta of 0.99. The business has a 50-day simple moving average of $111.47 and a two-hundred day simple moving average of $110.18. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stephens dropped their price target on 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. Loop Capital assumed coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. TD Securities increased their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays decreased their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Scotiabank upped their price objective on 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. 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 company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group 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.