The Descartes Systems Group Inc. $DSGX Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 946,596 shares of the technology company’s stock after selling 42,628 shares during the quarter. TD Asset Management Inc owned 1.10% of The Descartes Systems Group worth $89,157,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in The Descartes Systems Group during the third quarter valued at $28,000. SBI Securities Co. Ltd. raised its position in shares of The Descartes Systems Group by 77.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock worth $58,000 after purchasing an additional 248 shares during the last quarter. Versant Capital Management Inc lifted its stake in The Descartes Systems Group by 24.8% in the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after buying an additional 131 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in The Descartes Systems Group in the 2nd quarter worth about $68,000. Finally, GAMMA Investing LLC increased its stake in The Descartes Systems Group by 42.1% during the 3rd quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after buying an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 1.7%

DSGX stock opened at $64.66 on Thursday. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 36.53 and a beta of 0.75. The business has a fifty day moving average of $78.75 and a two-hundred day moving average of $88.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. As a group, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DSGX shares. Canadian Imperial Bank of Commerce decreased their target price on The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Morgan Stanley upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Finally, BMO Capital Markets cut their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $114.20.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.