Cumberland Partners Ltd Has $8.03 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Cumberland Partners Ltd cut its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 17.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,670 shares of the technology company’s stock after selling 15,233 shares during the quarter. Cumberland Partners Ltd’s holdings in The Descartes Systems Group were worth $8,027,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DSGX. Creative Planning raised its position in shares of The Descartes Systems Group by 33.5% in the third quarter. Creative Planning now owns 17,036 shares of the technology company’s stock valued at $1,754,000 after purchasing an additional 4,274 shares during the period. Blue Trust Inc. raised its holdings in The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after acquiring an additional 587 shares during the period. Whittier Trust Co. lifted its position in The Descartes Systems Group by 8.2% during the third quarter. Whittier Trust Co. now owns 9,216 shares of the technology company’s stock worth $949,000 after acquiring an additional 701 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in The Descartes Systems Group by 26.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company’s stock worth $156,000 after acquiring an additional 320 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of The Descartes Systems Group by 12.1% during the third quarter. Signaturefd LLC now owns 2,425 shares of the technology company’s stock worth $250,000 after acquiring an additional 261 shares during the period. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DSGX. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Loop Capital began coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Stephens upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Royal Bank of Canada lifted their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. Finally, BMO Capital Markets increased their target price 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. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $114.73 on Thursday. The business has a fifty day moving average price of $115.99 and a two-hundred day moving average price of $109.13. The stock has a market capitalization of $9.82 billion, a PE ratio of 72.16 and a beta of 0.99. The Descartes Systems Group Inc. has a fifty-two week low of $84.12 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share 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 period in the prior year, the company earned $0.31 EPS. As a group, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

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.