Summitry LLC Purchases 629 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Summitry LLC increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,954 shares of the technology company’s stock after acquiring an additional 629 shares during the quarter. Summitry LLC’s holdings in The Descartes Systems Group were worth $336,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DSGX. Vanguard Group Inc. lifted its position in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock valued at $375,047,000 after purchasing an additional 54,341 shares during the period. Franklin Resources Inc. boosted its stake in The Descartes Systems Group by 3.1% in the third quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after acquiring an additional 40,807 shares during the last quarter. TD Asset Management Inc. grew its holdings in The Descartes Systems Group by 3.2% during the 4th quarter. TD Asset Management Inc. now owns 899,762 shares of the technology company’s stock worth $102,224,000 after acquiring an additional 28,204 shares during the period. National Bank of Canada FI raised its position in shares of 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 valued at $71,911,000 after acquiring an additional 556,408 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of 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 valued at $69,282,000 after purchasing an additional 72,501 shares during the period. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DSGX shares. TD Securities lifted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets decreased their target price on 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. Barclays cut their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Scotiabank boosted their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective on the stock. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group Stock Up 2.5 %

NASDAQ:DSGX opened at $105.54 on Wednesday. The company has a market cap of $9.03 billion, a P/E ratio of 66.38 and a beta of 0.99. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The business has a 50 day moving average price of $111.31 and a two-hundred day moving average price of $110.23.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its 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 Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. As a group, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.