Norges Bank Invests $126.92 Million in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Norges Bank purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,117,953 shares of the technology company's stock, valued at approximately $126,918,000. Norges Bank owned approximately 1.31% of The Descartes Systems Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. boosted its holdings 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 acquiring an additional 181 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at $43,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group during the 4th quarter worth approximately $54,000. GAMMA Investing LLC raised its position in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after purchasing an additional 495 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in The Descartes Systems Group in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DSGX. CIBC cut 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 note on Thursday, March 6th. Barclays lowered their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. BMO Capital Markets reduced 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. Scotiabank raised their price objective 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, StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Five equities research 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 company. According to MarketBeat.com, The Descartes Systems Group has a consensus rating of "Moderate Buy" and a consensus price target of $120.50.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded down $4.83 during mid-day trading on Friday, hitting $95.84. 792,483 shares of the company traded hands, compared to its average volume of 203,091. The stock has a fifty day moving average price of $108.55 and a 200-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 stock has a market cap of $8.20 billion, a price-to-earnings ratio of 60.28 and a beta of 0.99.

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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The company 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%. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group 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.