The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE raised its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 284,790 shares of the technology company's stock after buying an additional 57,720 shares during the period. Bank of America Corp DE owned approximately 0.33% of The Descartes Systems Group worth $32,352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DSGX. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at $43,000. Geode Capital Management LLC increased its holdings in The Descartes Systems Group by 23.0% during the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock worth $67,934,000 after purchasing an additional 110,329 shares during the period. Canoe Financial LP purchased a new stake in The Descartes Systems Group during the 4th quarter worth about $7,939,000. Stephens Investment Management Group LLC raised 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 in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of 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 buying an additional 3,267 shares during the period. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock traded down $0.14 during trading hours on Thursday, hitting $113.34. The company had a trading volume of 38,241 shares, compared to its average volume of 207,887. The company's 50-day moving average is $104.24 and its two-hundred day moving average is $110.67. The company has a market cap of $9.70 billion, a P/E ratio of 71.28 and a beta of 0.88. The Descartes Systems Group Inc. has a twelve month low of $89.00 and a twelve month high of $124.31.

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 firm had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. Sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. CIBC lowered their price target 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. Scotiabank increased their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research report on Wednesday, March 26th. Stephens reduced their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays decreased their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.