Geode Capital Management LLC Increases Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Geode Capital Management LLC raised its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 23.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 590,010 shares of the technology company's stock after acquiring an additional 110,329 shares during the period. Geode Capital Management LLC owned approximately 0.69% of The Descartes Systems Group worth $67,934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in DSGX. EverSource Wealth Advisors LLC grew its holdings in shares of The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after buying an additional 108 shares during the last quarter. Mather Group LLC. raised its holdings in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after purchasing an additional 181 shares during the period. Allworth Financial LP increased its holdings in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock worth $77,000 after acquiring an additional 182 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its stake in The Descartes Systems Group by 1.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock valued at $2,677,000 after buying an additional 222 shares in the last quarter. Finally, Barclays PLC boosted 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 worth $1,031,000 after acquiring an additional 270 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Remove Ads

The Descartes Systems Group Stock Performance

NASDAQ DSGX traded up $2.00 on Tuesday, reaching $103.58. The stock had a trading volume of 301,889 shares, compared to its average volume of 208,347. The stock has a market cap of $8.87 billion, a P/E ratio of 65.14 and a beta of 0.97. The business's 50-day moving average price is $105.78 and its 200 day moving average price is $110.22. The Descartes Systems Group Inc. has a 12-month low of $88.44 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. The company had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on DSGX. StockNews.com downgraded shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. BMO Capital Markets decreased their price target on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Stephens dropped their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Barclays lowered their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Finally, Scotiabank increased their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. Five investment 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

The Descartes Systems Group Company 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.