Praesidium Investment Management Company LLC acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 481,725 shares of the technology company's stock, valued at approximately $54,724,000. The Descartes Systems Group accounts for about 9.2% of Praesidium Investment Management Company LLC's holdings, making the stock its 6th biggest position. Praesidium Investment Management Company LLC owned about 0.56% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of DSGX. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group in the 4th quarter valued at $43,000. Geode Capital Management LLC grew its position in The Descartes Systems Group by 23.0% in the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after purchasing an additional 110,329 shares during the period. Canoe Financial LP acquired a new stake in The Descartes Systems Group in the 4th quarter valued at $7,939,000. Stephens Investment Management Group LLC grew its position in The Descartes Systems Group by 9.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 209,176 shares of the technology company's stock valued at $23,762,000 after purchasing an additional 18,233 shares during the period. Finally, SG Americas Securities LLC grew its position in The Descartes Systems Group by 36.5% in the 4th quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock valued at $1,388,000 after purchasing an additional 3,267 shares during the period. 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. BMO Capital Markets cut their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Scotiabank lifted their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Barclays cut 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 report on Thursday, March 6th. CIBC cut their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Finally, StockNews.com downgraded shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.
View Our Latest Stock Analysis on DSGX
The Descartes Systems Group Price Performance
Shares of NASDAQ DSGX traded up $0.74 during mid-day trading on Friday, reaching $113.50. 257,522 shares of the company's stock were exchanged, compared to its average volume of 207,643. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31. The firm has a 50-day moving average price of $103.37 and a two-hundred day moving average price of $110.54. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 71.38 and a beta of 0.88.
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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.
The Descartes Systems Group Company Profile
(
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.
See Also
Before you consider The Descartes Systems Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Descartes Systems Group wasn't on the list.
While The Descartes Systems Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
