Hsbc Holdings PLC Buys 14,261 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Hsbc Holdings PLC lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,389 shares of the technology company's stock after purchasing an additional 14,261 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of The Descartes Systems Group worth $8,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of DSGX. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group during the fourth quarter worth $43,000. Barclays PLC boosted its position in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company's stock valued at $1,031,000 after acquiring an additional 270 shares in the last quarter. Geode Capital Management LLC increased its stake in The Descartes Systems Group by 23.0% in the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after acquiring an additional 110,329 shares during the period. Canoe Financial LP acquired a new position in The Descartes Systems Group in the fourth quarter worth about $7,939,000. Finally, Stephens Investment Management Group LLC lifted its stake in The Descartes Systems Group by 9.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 209,176 shares of the technology company's stock worth $23,762,000 after purchasing an additional 18,233 shares during the period. 77.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DSGX. Barclays dropped their target price on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Scotiabank lifted their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. BMO Capital Markets lowered their target price 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 cut their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, StockNews.com lowered shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Five 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.com, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

The Descartes Systems Group Stock Performance

DSGX traded up $2.20 during mid-day trading on Friday, reaching $107.10. The stock had a trading volume of 245,098 shares, compared to its average volume of 202,997. The firm's fifty day simple moving average is $102.47 and its two-hundred day simple moving average is $110.23. The stock has a market capitalization of $9.17 billion, a P/E ratio of 67.36 and a beta of 0.88. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting 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 firm had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS 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.