Sone Capital Management LLC Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Sone Capital Management LLC bought a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 41,829 shares of the technology company's stock, valued at approximately $4,754,000.

Several other large investors also recently modified their holdings of DSGX. Norges Bank acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth $126,918,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of The Descartes Systems Group by 114.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after purchasing an additional 639,848 shares in the last quarter. Praesidium Investment Management Company LLC acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth $54,724,000. Franklin Resources Inc. raised its position in The Descartes Systems Group by 23.9% during 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 in the last quarter. Finally, Vontobel Holding Ltd. raised its position in The Descartes Systems Group by 104.5% during the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company's stock valued at $48,819,000 after purchasing an additional 219,736 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DSGX. Wall Street Zen downgraded shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 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 on the stock in a research note on Thursday, March 6th. Scotiabank raised their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. 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 on the stock in a research note on Thursday, March 6th. Finally, CIBC reduced their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Four research 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's stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of "Moderate Buy" and an average target price of $122.18.

The Descartes Systems Group Trading Up 0.7%

DSGX traded up $0.75 on Friday, reaching $114.95. The stock had a trading volume of 313,119 shares, compared to its average volume of 209,493. The Descartes Systems Group Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $124.31. The firm has a 50-day moving average of $104.84 and a 200-day moving average of $110.77. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 72.30 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. The company had revenue of $167.50 million for the quarter, compared to analyst estimates 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 anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

The Descartes Systems Group Company 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.