Bank of Nova Scotia grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,576 shares of the technology company's stock after purchasing an additional 5,399 shares during the period. Bank of Nova Scotia owned about 0.54% of The Descartes Systems Group worth $52,233,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in The Descartes Systems Group in the fourth quarter worth approximately $43,000. Jane Street Group LLC boosted its stake in shares of The Descartes Systems Group by 20.4% in the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company's stock worth $1,368,000 after buying an additional 2,250 shares during the last quarter. Barclays PLC grew its holdings 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 worth $1,031,000 after acquiring an additional 270 shares during the period. Canoe Financial LP purchased a new stake in The Descartes Systems Group during the fourth quarter valued at $7,939,000. Finally, Geode Capital Management LLC lifted its holdings in The Descartes Systems Group by 23.0% in the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after acquiring an additional 110,329 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on DSGX shares. Scotiabank lifted 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 report on Wednesday, March 26th. Barclays reduced their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. BMO Capital Markets cut their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research report on Thursday, March 6th. CIBC decreased their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.
Check Out Our Latest Stock Analysis on DSGX
The Descartes Systems Group Stock Performance
Shares of NASDAQ DSGX traded up $0.19 during mid-day trading on Monday, reaching $101.93. 45,361 shares of the company's stock were exchanged, compared to its average volume of 302,184. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 64.11 and a beta of 0.97. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31. The company's 50-day moving average is $106.10 and its 200-day moving average is $110.22.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.
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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