Nicholas Investment Partners LP Acquires 3,183 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Nicholas Investment Partners LP boosted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,559 shares of the technology company's stock after purchasing an additional 3,183 shares during the period. The Descartes Systems Group comprises about 1.0% of Nicholas Investment Partners LP's holdings, making the stock its 27th largest holding. Nicholas Investment Partners LP owned about 0.12% of The Descartes Systems Group worth $11,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after acquiring an additional 54,341 shares during the period. T. Rowe Price Investment Management Inc. increased its position in The Descartes Systems Group by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after acquiring an additional 101,290 shares during the period. Franklin Resources Inc. increased its position in The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Arrowstreet Capital Limited Partnership increased its position in The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after acquiring an additional 639,848 shares during the period. Finally, Norges Bank acquired a new position in The Descartes Systems Group in the 4th quarter valued at approximately $126,918,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on DSGX shares. Scotiabank upped 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. 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 for the company in a research report on Thursday, March 6th. CIBC decreased their price objective on shares of 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. Barclays decreased their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Finally, Stephens decreased their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Trading Up 0.7%

NASDAQ DSGX traded up $0.74 on Friday, hitting $113.50. 257,522 shares of the company were exchanged, compared to its average volume of 207,515. The company has a market cap of $9.72 billion, a PE ratio of 71.38 and a beta of 0.88. The Descartes Systems Group Inc. has a 12 month low of $89.00 and a 12 month high of $124.31. The stock has a fifty day moving average of $103.37 and a 200-day moving average of $110.51.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. On average, analysts expect 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.