Royal Bank of Canada lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 568,639 shares of the technology company's stock after selling 72,688 shares during the period. Royal Bank of Canada owned 0.66% of The Descartes Systems Group worth $64,598,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. increased its stake in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after buying an additional 181 shares during the period. GeoWealth Management LLC boosted its holdings in shares of The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after acquiring an additional 132 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $43,000. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in The Descartes Systems Group during the fourth quarter worth approximately $57,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Barclays decreased their price target on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research report on Thursday, March 6th. Wall Street Zen downgraded shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Stephens lowered 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 research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $122.18.
Read Our Latest Stock Analysis on The Descartes Systems Group
The Descartes Systems Group Trading Up 0.7%
DSGX stock traded up $0.75 during mid-day trading on Monday, reaching $114.95. 313,119 shares of the stock traded hands, compared to its average volume of 209,808. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The stock's fifty day moving average is $104.84 and its 200-day moving average is $110.74. The company has a market cap of $9.84 billion, a P/E ratio of 72.30 and a beta of 0.88.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results 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 net margin of 21.80% and a return on equity of 10.65%. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.
About The Descartes Systems Group
(
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.
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