The Descartes Systems Group Inc. (NASDAQ:DSGX) Stake Lowered by Swiss National Bank

Swiss National Bank cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 248,224 shares of the technology company’s stock after selling 10,100 shares during the quarter. Swiss National Bank’s holdings in The Descartes Systems Group were worth $28,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in The Descartes Systems Group by 3.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock worth $142,693,000 after buying an additional 40,807 shares in the last quarter. National Bank of Canada FI grew its holdings in The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after buying an additional 556,408 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in The Descartes Systems Group by 12.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after buying an additional 72,501 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in The Descartes Systems Group by 18.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after buying an additional 102,208 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in The Descartes Systems Group by 3.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company’s stock worth $60,248,000 after buying an additional 20,205 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. CIBC decreased their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. TD Securities upped their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays cut 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 research report on Thursday, March 6th. Finally, Royal Bank of Canada cut their target price on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Stock Up 0.8 %

DSGX opened at $100.21 on Tuesday. The firm has a market cap of $8.58 billion, a PE ratio of 63.03 and a beta of 0.99. The business has a fifty day simple moving average of $112.73 and a 200-day simple moving average of $110.18. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

The Descartes Systems Group 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.