Hsbc Holdings PLC grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 23.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,389 shares of the technology company's stock after acquiring an additional 14,261 shares during the quarter. Hsbc Holdings PLC owned 0.09% of The Descartes Systems Group worth $8,568,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. raised its position in shares of The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after buying an additional 181 shares in the last quarter. GeoWealth Management LLC increased its stake in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after acquiring an additional 132 shares during the period. SBI Securities Co. Ltd. acquired a new position in The Descartes Systems Group in the 4th quarter valued at $43,000. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth $57,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on DSGX. CIBC dropped their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Stephens dropped their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Royal Bank of Canada restated an "outperform" rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday, March 28th. Finally, Barclays reduced their target price on 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. Five 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, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average target price of $119.50.
Get Our Latest Analysis on DSGX
The Descartes Systems Group Trading Down 0.1 %
The Descartes Systems Group stock opened at $105.55 on Monday. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 66.38 and a beta of 0.97. The firm's fifty day moving average price is $103.13 and its two-hundred day moving average price is $110.26. The Descartes Systems Group Inc. has a 1-year low of $89.00 and a 1-year high of $124.31.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results 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 analysts' expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.
Further Reading
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