Fred Alger Management LLC Increases Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Fred Alger Management LLC lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1,670.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,518 shares of the technology company's stock after acquiring an additional 70,309 shares during the period. Fred Alger Management LLC owned approximately 0.09% of The Descartes Systems Group worth $8,465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mather Group LLC. boosted its position in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after buying an additional 181 shares during the last quarter. GeoWealth Management LLC grew its position in shares of The Descartes Systems Group by 63.2% in 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. SBI Securities Co. Ltd. bought a new position in shares of The Descartes Systems Group in the fourth quarter valued at about $43,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group in the 4th quarter worth about $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at approximately $57,000. Institutional investors own 77.73% of the company's stock.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of analyst reports. Stephens reduced their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. StockNews.com lowered 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 The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada restated an "outperform" rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday, March 28th. Finally, CIBC cut their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. 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 stock. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average price target of $119.50.

The Descartes Systems Group Trading Down 1.0%

DSGX traded down $1.11 during mid-day trading on Wednesday, hitting $112.90. 167,337 shares of the stock were exchanged, compared to its average volume of 206,394. The company has a market cap of $9.66 billion, a PE ratio of 71.01 and a beta of 0.88. The firm's fifty day moving average is $102.49 and its two-hundred day moving average is $110.41. The Descartes Systems Group Inc. has a 1-year low of $89.00 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

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.