Balyasny Asset Management L.P. Invests $973,000 in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Balyasny Asset Management L.P. bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,562 shares of the technology company's stock, valued at approximately $973,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after buying an additional 54,341 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in The Descartes Systems Group by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after buying an additional 101,290 shares during the last quarter. Franklin Resources Inc. boosted its holdings in The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after purchasing an additional 326,643 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after purchasing an additional 639,848 shares during the period. Finally, Norges Bank bought a new stake in The Descartes Systems Group in the 4th quarter valued at $126,918,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 0.5%

The Descartes Systems Group stock traded up $0.56 during midday trading on Tuesday, hitting $112.80. 53,350 shares of the stock were exchanged, compared to its average volume of 206,931. The company has a fifty day simple moving average of $103.62 and a two-hundred day simple moving average of $110.63. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31. The stock has a market capitalization of $9.66 billion, a PE ratio of 70.83 and a beta of 0.88.

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 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 firm had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. As a group, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DSGX shares. BMO Capital Markets reduced their price target 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. Barclays reduced their price target on shares of 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. CIBC reduced their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Stephens reduced their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.

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.