Cumberland Partners Ltd Has $8.03 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Cumberland Partners Ltd lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,670 shares of the technology company’s stock after selling 15,233 shares during the quarter. Cumberland Partners Ltd owned about 0.08% of The Descartes Systems Group worth $8,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. boosted its stake in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of The Descartes Systems Group during the fourth quarter worth $54,000. GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the period. Allworth Financial LP increased its position in shares of The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DSGX has been the subject of a number of research analyst reports. Stephens raised The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Royal Bank of Canada boosted their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. TD Securities raised their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Finally, BMO Capital Markets raised their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $114.73 on Thursday. The stock’s 50-day simple moving average is $115.99 and its 200 day simple moving average is $109.13. The Descartes Systems Group Inc. has a 52-week low of $84.12 and a 52-week high of $124.31. The company has a market cap of $9.82 billion, a P/E ratio of 72.16 and a beta of 0.99.

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

The Descartes Systems Group 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.