Northern Trust Corp Acquires 8,537 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Northern Trust Corp lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,737 shares of the technology company's stock after purchasing an additional 8,537 shares during the quarter. Northern Trust Corp owned about 0.09% of The Descartes Systems Group worth $9,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in The Descartes Systems Group by 14.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after buying an additional 108 shares during the last quarter. GeoWealth Management LLC increased its holdings in shares of The Descartes Systems Group by 63.2% during 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. Mather Group LLC. raised its position in shares of The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Allworth Financial LP boosted its stake in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock worth $77,000 after purchasing an additional 182 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its position in The Descartes Systems Group by 1.0% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock valued at $2,677,000 after purchasing an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Down 0.6%

DSGX stock traded down $0.67 during midday trading on Wednesday, reaching $113.47. 286,614 shares of the company's stock traded hands, compared to its average volume of 208,357. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The stock has a market cap of $9.71 billion, a P/E ratio of 71.36 and a beta of 0.88. The stock's 50-day moving average is $103.96 and its 200 day moving average is $110.65.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its 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 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%. As a group, research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the subject of several recent analyst reports. 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 report on Wednesday, March 26th. Stephens lowered their price objective 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. Royal Bank of Canada reissued an "outperform" rating and issued a $130.00 target price on shares of The Descartes Systems Group in a report on Friday, March 28th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, CIBC reduced their price objective 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. Four equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.