Squarepoint Ops LLC Purchases New Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Squarepoint Ops LLC bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,270 shares of the technology company's stock, valued at approximately $712,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after purchasing an additional 54,341 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of The Descartes Systems Group by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock worth $200,716,000 after purchasing an additional 101,290 shares during the period. Franklin Resources Inc. boosted its holdings in shares of 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 worth $192,502,000 after buying an additional 326,643 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after buying an additional 639,848 shares during the period. Finally, Norges Bank bought a new position in The Descartes Systems Group during the fourth quarter valued at about $126,918,000. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

DSGX traded down $14.00 on Thursday, hitting $101.61. 1,115,507 shares of the company were exchanged, compared to its average volume of 213,772. The Descartes Systems Group Inc. has a 12 month low of $90.55 and a 12 month high of $124.31. The firm has a fifty day simple moving average of $106.92 and a two-hundred day simple moving average of $110.83. The stock has a market capitalization of $8.70 billion, a PE ratio of 63.81 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DSGX shares. BMO Capital Markets lowered 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 report on Thursday, March 6th. Stephens dropped their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada dropped their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Scotiabank lifted their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Three investment 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.40.

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.