GW&K Investment Management LLC Has $37.66 Million Holdings in The Descartes Systems Group Inc. $DSGX

GW&K Investment Management LLC lessened its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 429,598 shares of the technology company’s stock after selling 54,378 shares during the period. GW&K Investment Management LLC owned approximately 0.50% of The Descartes Systems Group worth $37,658,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DSGX. Norges Bank acquired a new stake in The Descartes Systems Group in the fourth quarter valued at approximately $100,405,000. Temasek Holdings Private Ltd grew its stake 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 valued at $137,968,000 after acquiring an additional 567,386 shares during the period. Westfield Capital Management Co. LP grew its stake 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 valued at $94,355,000 after acquiring an additional 351,700 shares during the period. Bank of America Corp DE grew its stake 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 valued at $60,573,000 after acquiring an additional 349,517 shares during the period. Finally, Fiera Capital Corp grew its stake 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 valued at $280,123,000 after acquiring an additional 276,329 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 1.2%

Shares of The Descartes Systems Group stock opened at $73.91 on Thursday. The business’s fifty day simple moving average is $71.77 and its 200 day simple moving average is $76.10. The firm has a market capitalization of $6.35 billion, a P/E ratio of 36.96 and a beta of 0.64. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DSGX shares. Zacks Research cut The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce raised their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Raymond James Financial cut their target price 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. Finally, Loop Capital reaffirmed a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.17.

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.