Clearbridge Investments LLC Has $40.04 Million Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Clearbridge Investments LLC trimmed its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 352,421 shares of the technology company’s stock after selling 71,601 shares during the period. Clearbridge Investments LLC’s holdings in The Descartes Systems Group were worth $40,035,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. FMR LLC now owns 150,654 shares of the technology company’s stock valued at $15,503,000 after purchasing an additional 4,067 shares during the period. Quantbot Technologies LP bought a new position in shares of The Descartes Systems Group during the third quarter worth about $352,000. BNP Paribas Financial Markets acquired a new stake in The Descartes Systems Group in the 3rd quarter valued at approximately $926,000. Verition Fund Management LLC bought a new stake in The Descartes Systems Group in the 3rd quarter valued at approximately $313,000. Finally, Reynders McVeigh Capital Management LLC boosted its position in The Descartes Systems Group by 2.7% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 45,330 shares of the technology company’s stock worth $4,667,000 after acquiring an additional 1,205 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

DSGX stock opened at $101.87 on Wednesday. The company has a fifty day moving average price of $110.06 and a two-hundred day moving average price of $110.44. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 64.07 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 released its quarterly 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%. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. Research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DSGX. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. BMO Capital Markets lowered their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Barclays reduced their price objective on shares of 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. Stephens lowered their target price 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. Finally, 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 for the company. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.50.

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.