Scotia Capital Inc. Purchases 4,797 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Scotia Capital Inc. grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,695 shares of the technology company's stock after buying an additional 4,797 shares during the period. Scotia Capital Inc. owned 0.07% of The Descartes Systems Group worth $6,942,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DSGX. Bessemer Group Inc. grew its holdings in shares of The Descartes Systems Group by 4.1% in the fourth quarter. Bessemer Group Inc. now owns 214,736 shares of the technology company's stock worth $24,395,000 after purchasing an additional 8,442 shares during the last quarter. APG Asset Management US Inc. purchased a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $306,000. Raymond James Financial Inc. purchased a new position in The Descartes Systems Group in the fourth quarter valued at $19,392,000. APG Asset Management N.V. lifted its holdings in The Descartes Systems Group by 374.0% during the fourth quarter. APG Asset Management N.V. now owns 65,407 shares of the technology company's stock valued at $7,176,000 after purchasing an additional 51,607 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of The Descartes Systems Group by 1.2% during the fourth quarter. Bank of Nova Scotia now owns 459,576 shares of the technology company's stock worth $52,233,000 after purchasing an additional 5,399 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Down 0.2 %

Shares of The Descartes Systems Group stock traded down $0.25 during trading hours on Wednesday, reaching $103.33. The stock had a trading volume of 65,863 shares, compared to its average volume of 207,822. The stock's 50 day moving average is $105.78 and its 200 day moving average is $110.22. The Descartes Systems Group Inc. has a twelve month low of $88.44 and a twelve month high of $124.31. The firm has a market capitalization of $8.85 billion, a PE ratio of 64.99 and a beta of 0.97.

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, meeting analysts' consensus estimates of $0.43. The company had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several analyst reports. Stephens reduced 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. Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a "buy" rating and a $140.00 price objective for the company. 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 note on Friday, March 28th. Scotiabank upped their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Finally, StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

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.