SG Americas Securities LLC decreased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 22.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,417 shares of the technology company's stock after selling 2,797 shares during the period. SG Americas Securities LLC's holdings in The Descartes Systems Group were worth $950,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DSGX. Mackenzie Financial Corp increased its position in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after acquiring an additional 2,800,492 shares in the last quarter. Norges Bank purchased a new stake in The Descartes Systems Group during the 4th quarter worth $126,918,000. Arrowstreet Capital Limited Partnership increased 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 in the last quarter. Praesidium Investment Management Company LLC acquired a new stake in The Descartes Systems Group in the 4th quarter valued at $54,724,000. Finally, Franklin Resources Inc. raised its position in The Descartes Systems Group by 23.9% in the fourth 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. 77.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
DSGX has been the subject of several analyst reports. Scotiabank upped their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 26th. CIBC decreased their price target on 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. Barclays lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Royal Bank Of Canada reduced their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Finally, Stephens lowered their price target 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. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.40.
Read Our Latest Research Report on DSGX
The Descartes Systems Group Price Performance
Shares of NASDAQ:DSGX traded up $0.26 during midday trading on Friday, reaching $99.22. The company had a trading volume of 349,593 shares, compared to its average volume of 228,441. The stock's fifty day moving average price is $106.95 and its 200-day moving average price is $109.45. The stock has a market capitalization of $8.49 billion, a P/E ratio of 59.77 and a beta of 0.87. The Descartes Systems Group Inc. has a one year low of $90.61 and a one year high of $124.31.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The Descartes Systems Group's revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, sell-side analysts forecast 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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