Massachusetts Financial Services Co. MA Decreases Holdings in The Descartes Systems Group Inc. $DSGX

Massachusetts Financial Services Co. MA trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 60.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,404 shares of the technology company’s stock after selling 242,577 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in The Descartes Systems Group were worth $13,798,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DSGX. Quarry LP purchased a new stake in The Descartes Systems Group in the 3rd quarter worth about $27,000. Mather Group LLC. purchased a new stake in The Descartes Systems Group in the 3rd quarter worth about $28,000. Danske Bank A S purchased a new stake in The Descartes Systems Group in the 3rd quarter worth about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in The Descartes Systems Group in the 3rd quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd raised its position in The Descartes Systems Group by 267.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after purchasing an additional 401 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $75.80 on Friday. The company has a market capitalization of $6.52 billion, a P/E ratio of 40.75 and a beta of 0.71. The company’s 50-day simple moving average is $68.99 and its two-hundred day simple moving average is $80.96. The Descartes Systems Group Inc. has a one year low of $62.56 and a one year high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $192.37 million for the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price objective on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. BMO Capital Markets reduced their price objective on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a research report on Thursday, March 12th. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $100.00 to $90.00 in a research report on Thursday. Barclays reduced their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Finally, Morgan Stanley reduced their price objective on shares of The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.45.

The Descartes Systems Group 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.