Sheets Smith Investment Management Takes $852,000 Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Sheets Smith Investment Management bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,498 shares of the technology company's stock, valued at approximately $852,000.

Several other institutional investors also recently made changes to their positions in DSGX. Vanguard Group Inc. lifted its stake in shares of The Descartes Systems Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after purchasing an additional 54,341 shares during the period. LPL Financial LLC increased its holdings in The Descartes Systems Group by 34.1% in the fourth quarter. LPL Financial LLC now owns 21,375 shares of the technology company's stock valued at $2,428,000 after buying an additional 5,435 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of The Descartes Systems Group by 192,650.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 77,100 shares of the technology company's stock valued at $8,754,000 after acquiring an additional 77,060 shares during the period. Virtu Financial LLC purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth approximately $269,000. Finally, Quantbot Technologies LP grew its holdings in shares of The Descartes Systems Group by 511.9% in the 4th quarter. Quantbot Technologies LP now owns 20,902 shares of the technology company's stock worth $2,374,000 after acquiring an additional 17,486 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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The Descartes Systems Group Trading Down 1.4 %

The Descartes Systems Group stock traded down $1.39 during mid-day trading on Friday, reaching $100.24. The company's stock had a trading volume of 206,101 shares, compared to its average volume of 196,292. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 63.04 and a beta of 0.99. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The business has a 50 day moving average price of $110.36 and a 200-day moving average price of $110.23.

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, meeting analysts' consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DSGX shares. Barclays reduced 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 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. Scotiabank upped 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 note on Wednesday. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research report on Friday. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.50.

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.