Metis Global Partners LLC Lowers Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Metis Global Partners LLC decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,239 shares of the technology company’s stock after selling 1,005 shares during the quarter. Metis Global Partners LLC’s holdings in The Descartes Systems Group were worth $368,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Trust Direct Indexing L.P. acquired a new stake in The Descartes Systems Group during the third quarter valued at $240,000. Stephens Inc. AR grew its position in shares of 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 valued at $1,038,000 after acquiring an additional 238 shares during the period. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 0.8% in the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after purchasing an additional 19,817 shares in the last quarter. Assetmark Inc. raised its holdings in The Descartes Systems Group by 3.5% in 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 during the period. Finally, Versor Investments LP purchased a new position in The Descartes Systems Group during the third quarter worth approximately $278,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DSGX has been the subject of a number of recent analyst reports. Stephens upgraded The Descartes Systems Group to a “strong-buy” rating in a research report on Saturday, February 1st. TD Securities boosted 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. Royal Bank of Canada increased their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Finally, BMO Capital Markets raised their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Price Performance

DSGX stock opened at $110.92 on Thursday. The Descartes Systems Group Inc. has a 1 year low of $85.15 and a 1 year high of $124.31. The firm has a market capitalization of $9.50 billion, a PE ratio of 69.76 and a beta of 0.99. The business has a 50 day simple moving average of $114.93 and a 200-day simple moving average of $110.17.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) 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%. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.