Geode Capital Management LLC Grows Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Geode Capital Management LLC grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 23.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 590,010 shares of the technology company's stock after acquiring an additional 110,329 shares during the quarter. Geode Capital Management LLC owned about 0.69% of The Descartes Systems Group worth $67,934,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Mather Group LLC. increased its position in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of The Descartes Systems Group during the 4th quarter worth $43,000. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group in the 4th quarter worth $54,000. GAMMA Investing LLC increased its position in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock worth $57,000 after buying an additional 495 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of The Descartes Systems Group during the 4th quarter valued at about $57,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on DSGX shares. Scotiabank raised their price objective 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. CIBC cut their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Barclays lowered their target price on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Finally, BMO Capital Markets decreased 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. Five 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. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average target price of $119.50.

The Descartes Systems Group Trading Down 0.8 %

Shares of NASDAQ DSGX traded down $0.78 during trading hours on Friday, reaching $102.32. The stock had a trading volume of 135,800 shares, compared to its average volume of 208,018. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 64.35 and a beta of 0.97. The business's fifty day moving average price is $104.73 and its two-hundred day moving average price is $110.12.

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