Assenagon Asset Management S.A. Decreases Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Assenagon Asset Management S.A. lessened its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 13.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,115 shares of the technology company’s stock after selling 325 shares during the quarter. Assenagon Asset Management S.A.’s holdings in The Descartes Systems Group were worth $240,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC increased its holdings in shares of The Descartes Systems Group by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock valued at $326,238,000 after purchasing an additional 52,485 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of The Descartes Systems Group by 0.8% during the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock worth $265,692,000 after acquiring an additional 19,817 shares during the period. Geneva Capital Management LLC grew its holdings in shares of The Descartes Systems Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock valued at $152,037,000 after purchasing an additional 19,002 shares during the period. Franklin Resources Inc. increased its position in The Descartes Systems Group by 3.1% during the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after purchasing an additional 40,807 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after purchasing an additional 556,408 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $119.13 on Friday. The stock has a 50-day simple moving average of $116.00 and a 200-day simple moving average of $107.02. The Descartes Systems Group Inc. has a 52-week low of $84.12 and a 52-week high of $122.88. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 74.92 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Scotiabank raised their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $117.92.

The Descartes Systems Group Company 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.