Arrowstreet Capital Limited Partnership boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 114.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,199,377 shares of the technology company's stock after purchasing an additional 639,848 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.40% of The Descartes Systems Group worth $136,175,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DSGX. SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $43,000. Jane Street Group LLC grew its holdings in shares of The Descartes Systems Group by 20.4% during the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company's stock worth $1,368,000 after purchasing an additional 2,250 shares during the last quarter. Barclays PLC increased its stake in shares of The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company's stock valued at $1,031,000 after buying an additional 270 shares in the last quarter. Canoe Financial LP bought a new position in shares of The Descartes Systems Group in the fourth quarter valued at about $7,939,000. Finally, Geode Capital Management LLC lifted its position in The Descartes Systems Group by 10.7% during the 3rd quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company's stock worth $50,277,000 after buying an additional 46,523 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.
The Descartes Systems Group Price Performance
DSGX stock traded down $4.83 during midday trading on Friday, reaching $95.84. 792,483 shares of the company were exchanged, compared to its average volume of 202,676. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 60.28 and a beta of 0.99. The business has a 50-day moving average price of $108.55 and a two-hundred day moving average price of $110.33. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year high of $124.31.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.
Analyst Ratings Changes
DSGX has been the subject of a number of research reports. Loop Capital started coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price objective for the company. Stephens reduced their price target on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Scotiabank increased their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $130.00 target price on shares of The Descartes Systems Group in a research report on Friday, March 28th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average price target of $120.50.
Check Out Our Latest Research Report on The Descartes Systems Group
About The Descartes Systems Group
(
Free Report)
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.
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