Congress Asset Management Co. Sells 31,208 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Congress Asset Management Co. reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,180,644 shares of the technology company’s stock after selling 31,208 shares during the period. Congress Asset Management Co. owned about 1.38% of The Descartes Systems Group worth $134,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. grew its holdings in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $54,000. GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after purchasing an additional 495 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of The Descartes Systems Group in the fourth quarter worth approximately $90,000. 77.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens raised The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. BMO Capital Markets lifted their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, TD Securities lifted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Stock Down 0.2 %

NASDAQ DSGX opened at $116.54 on Friday. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 73.30 and a beta of 0.99. The Descartes Systems Group Inc. has a 52 week low of $84.12 and a 52 week high of $124.31. The business has a 50 day moving average price of $116.26 and a 200-day moving average price of $108.79.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the prior year, the company posted $0.31 EPS. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.