Zurcher Kantonalbank Zurich Cantonalbank Has $6.09 Million Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,585 shares of the technology company's stock after purchasing an additional 8,130 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of The Descartes Systems Group worth $6,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DSGX. Franklin Resources Inc. boosted its holdings in The Descartes Systems Group by 3.1% in the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company's stock valued at $142,693,000 after acquiring an additional 40,807 shares during the last quarter. National Bank of Canada FI raised its position in shares of 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 valued at $71,911,000 after acquiring an additional 556,408 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of The Descartes Systems Group by 12.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company's stock valued at $69,282,000 after purchasing an additional 72,501 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of The Descartes Systems Group by 18.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company's stock worth $75,498,000 after purchasing an additional 102,208 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of The Descartes Systems Group by 3.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company's stock worth $60,248,000 after purchasing an additional 20,205 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

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The Descartes Systems Group Trading Down 1.1 %

Shares of The Descartes Systems Group stock traded down $1.06 during trading on Tuesday, reaching $99.15. The stock had a trading volume of 291,438 shares, compared to its average volume of 188,339. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 62.36 and a beta of 0.99. The stock has a fifty day moving average price of $112.73 and a two-hundred day moving average price of $110.18. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued 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 Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DSGX shares. Royal Bank of Canada cut their target price on The Descartes Systems Group from $133.00 to $130.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. StockNews.com downgraded shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. BMO Capital Markets decreased 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 report on Thursday, March 6th. CIBC lowered their target price on shares of 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. Finally, Barclays reduced their price target 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. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.33.

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.