Arrowstreet Capital Limited Partnership Has $122.20 Million Stock Position in The Descartes Systems Group Inc. $DSGX

Arrowstreet Capital Limited Partnership cut its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,202,196 shares of the technology company’s stock after selling 122,962 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in The Descartes Systems Group were worth $122,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its stake in 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 buying an additional 248 shares during the period. Parallel Advisors LLC raised its position in shares of The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock worth $59,000 after purchasing an additional 152 shares during the period. GAMMA Investing LLC lifted its holdings in shares of The Descartes Systems Group by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock worth $63,000 after purchasing an additional 117 shares in the last quarter. Employees Retirement System of Texas bought a new position in shares of The Descartes Systems Group in the 2nd quarter worth $68,000. Finally, Hilltop National Bank acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at $215,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Up 0.5%

Shares of DSGX stock opened at $82.96 on Thursday. The firm has a market cap of $7.13 billion, a P/E ratio of 49.09 and a beta of 0.74. The company has a 50 day moving average of $89.32 and a 200-day moving average of $98.77. The Descartes Systems Group Inc. has a 12-month low of $78.88 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The firm had revenue of $178.98 million during the quarter, compared to analysts’ expectations of $176.51 million. During the same quarter in the previous year, the company posted $0.40 EPS. The Descartes Systems Group’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

DSGX has been the topic of several research reports. Wall Street Zen upgraded shares of The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. CIBC lowered their target price on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Morgan Stanley dropped their price target on shares of The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 20th. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, TD Securities initiated coverage on The Descartes Systems Group in a research note on Friday, October 3rd. They issued a “buy” rating and a $121.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.70.

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.