Bessemer Group Inc. grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,736 shares of the technology company's stock after purchasing an additional 8,442 shares during the period. Bessemer Group Inc. owned approximately 0.25% of The Descartes Systems Group worth $24,395,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at about $926,000. Verition Fund Management LLC purchased a new position in The Descartes Systems Group in the third quarter valued at about $313,000. Quantinno Capital Management LP lifted its position in shares of The Descartes Systems Group by 7.0% during the 3rd quarter. Quantinno Capital Management LP now owns 5,578 shares of the technology company's stock valued at $574,000 after acquiring an additional 364 shares during the period. Wellington Management Group LLP boosted its stake in shares of The Descartes Systems Group by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 7,519 shares of the technology company's stock worth $775,000 after acquiring an additional 347 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings 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 acquiring an additional 2,250 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on DSGX. Royal Bank of Canada reiterated 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. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. 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 dropped their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. Finally, StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group has a consensus rating of "Moderate Buy" and an average price target of $119.50.
View Our Latest Research Report on DSGX
The Descartes Systems Group Stock Up 2.0 %
Shares of NASDAQ:DSGX traded up $2.00 during midday trading on Tuesday, reaching $103.58. The company's stock had a trading volume of 291,561 shares, compared to its average volume of 208,132. The business has a 50 day moving average price of $105.78 and a 200 day moving average price of $110.22. The Descartes Systems Group Inc. has a 1 year low of $87.20 and a 1 year high of $124.31. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 65.14 and a beta of 0.97.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate 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%. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.
The Descartes Systems Group Company Profile
(
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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