The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 18.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 665,134 shares of the technology company's stock after acquiring an additional 102,208 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.78% of The Descartes Systems Group worth $75,498,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC grew its stake in The Descartes Systems Group by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company's stock worth $326,238,000 after buying an additional 52,485 shares during the last quarter. Fiera Capital Corp grew its stake in The Descartes Systems Group by 0.8% during the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company's stock worth $265,692,000 after buying an additional 19,817 shares during the last quarter. Geneva Capital Management LLC grew its stake in The Descartes Systems Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company's stock worth $152,037,000 after buying an additional 19,002 shares during the last quarter. Franklin Resources Inc. grew its stake in The Descartes Systems Group by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company's stock worth $142,693,000 after buying an additional 40,807 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company's stock worth $71,911,000 after buying an additional 556,408 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

DSGX stock traded down $0.24 during midday trading on Friday, hitting $116.54. 172,250 shares of the stock were exchanged, compared to its average volume of 188,525. The stock's 50-day moving average price is $116.26 and its 200-day moving average price is $108.84. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 73.30 and a beta of 0.99. The Descartes Systems Group Inc. has a fifty-two week low of $84.12 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the previous year, the company posted $0.31 EPS. Research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DSGX shares. Scotiabank raised their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, December 4th. BMO Capital Markets increased their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. TD Securities increased their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Loop Capital assumed coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a "buy" rating and a $140.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of "Moderate Buy" and an average target price of $117.92.

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.