First Trust Advisors LP Increases Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

First Trust Advisors LP grew its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 24.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,389 shares of the technology company's stock after buying an additional 2,820 shares during the period. First Trust Advisors LP's holdings in The Descartes Systems Group were worth $1,635,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DSGX. Freedom Investment Management Inc. purchased a new position in shares of The Descartes Systems Group in the fourth quarter worth $255,000. GeoWealth Management LLC lifted its stake in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after acquiring an additional 132 shares during the period. NewEdge Advisors LLC lifted its stake in The Descartes Systems Group by 10.9% during the 4th quarter. NewEdge Advisors LLC now owns 3,427 shares of the technology company's stock valued at $389,000 after acquiring an additional 336 shares during the period. EAM Global Investors LLC acquired a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $2,953,000. Finally, EAM Investors LLC acquired a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $1,239,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Up 4.2%

NASDAQ:DSGX traded up $4.53 during trading hours on Monday, reaching $111.99. 52,870 shares of the company were exchanged, compared to its average volume of 203,985. The stock's 50-day moving average is $102.20 and its 200-day moving average is $110.32. The firm has a market cap of $9.59 billion, a PE ratio of 70.18 and a beta of 0.88. The Descartes Systems Group Inc. has a twelve month low of $89.00 and a twelve month high of $124.31.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on DSGX. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. 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. Royal Bank of Canada restated an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. 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 report on Wednesday, March 26th. Finally, Stephens dropped their price target on shares of 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. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average price target of $119.50.

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.