Korea Investment CORP Purchases 22,700 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Korea Investment CORP lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 115.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,301 shares of the technology company’s stock after buying an additional 22,700 shares during the quarter. Korea Investment CORP’s holdings in The Descartes Systems Group were worth $4,806,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after acquiring an additional 556,408 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of The Descartes Systems Group by 104.5% during the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock valued at $48,819,000 after purchasing an additional 219,736 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $19,392,000. Allspring Global Investments Holdings LLC increased its holdings in The Descartes Systems Group by 18.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock valued at $75,498,000 after buying an additional 102,208 shares during the period. Finally, Hillsdale Investment Management Inc. raised its stake in The Descartes Systems Group by 192,650.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 77,100 shares of the technology company’s stock worth $8,754,000 after buying an additional 77,060 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DSGX. Loop Capital began coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of The Descartes Systems Group in a report on Friday. TD Securities raised their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Stephens lowered their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $120.50.

The Descartes Systems Group Stock Up 0.6 %

Shares of NASDAQ DSGX opened at $100.83 on Tuesday. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31. The business’s 50 day moving average price is $110.06 and its 200 day moving average price is $110.44. The firm has a market cap of $8.63 billion, a P/E ratio of 63.42 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, research 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.