Bessemer Group Inc. Sells 86,608 Shares of The Descartes Systems Group Inc. $DSGX

Bessemer Group Inc. reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 30.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 198,496 shares of the technology company’s stock after selling 86,608 shares during the quarter. Bessemer Group Inc. owned about 0.23% of The Descartes Systems Group worth $17,401,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DSGX. Temasek Holdings Private Ltd increased its holdings in The Descartes Systems Group by 63.3% in the third quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock worth $137,968,000 after purchasing an additional 567,386 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in The Descartes Systems Group by 54.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock worth $94,355,000 after purchasing an additional 351,700 shares in the last quarter. Bank of America Corp DE increased its holdings in The Descartes Systems Group by 119.2% in the third quarter. Bank of America Corp DE now owns 642,817 shares of the technology company’s stock worth $60,573,000 after purchasing an additional 349,517 shares in the last quarter. Fiera Capital Corp increased its holdings in The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock worth $280,123,000 after purchasing an additional 276,329 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in The Descartes Systems Group by 303.0% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 339,370 shares of the technology company’s stock worth $31,961,000 after purchasing an additional 255,154 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Barclays lowered their target price on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Morgan Stanley lowered their target price on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Zacks Research downgraded The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Weiss Ratings downgraded The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.45.

The Descartes Systems Group Stock Up 0.7%

Shares of The Descartes Systems Group stock opened at $67.70 on Friday. The company has a market cap of $5.82 billion, a PE ratio of 36.40 and a beta of 0.65. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35. The business has a 50 day moving average price of $71.03 and a 200-day moving average price of $77.66.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $192.37 million during the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a return on equity of 10.70% and a net margin of 22.47%.The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 2.62 EPS for the current year.

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.