GW&K Investment Management LLC Reduces Holdings in The Descartes Systems Group Inc. $DSGX

GW&K Investment Management LLC lessened its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 429,598 shares of the technology company’s stock after selling 54,378 shares during the quarter. GW&K Investment Management LLC’s holdings in The Descartes Systems Group were worth $37,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. AXA S.A. lifted its position in shares of The Descartes Systems Group by 2.0% during the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after buying an additional 130 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its position in shares of The Descartes Systems Group by 0.3% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after buying an additional 140 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after buying an additional 143 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its position in shares of The Descartes Systems Group by 0.3% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 48,080 shares of the technology company’s stock valued at $4,529,000 after buying an additional 150 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of The Descartes Systems Group by 18.7% during the 4th quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock valued at $92,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Down 1.2%

NASDAQ:DSGX opened at $73.91 on Thursday. The business’s 50-day moving average price is $71.77 and its two-hundred day moving average price is $76.10. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00. The stock has a market cap of $6.35 billion, a P/E ratio of 36.96 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. During the same quarter last year, the firm posted $0.41 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DSGX. Raymond James Financial dropped their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Morgan Stanley dropped their price target on 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. Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. BMO Capital Markets dropped their price objective on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. Finally, Canaccord Genuity Group cut their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.17.

About The Descartes Systems Group

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.