APG Asset Management US Inc. Makes New $306,000 Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

APG Asset Management US Inc. acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,691 shares of the technology company’s stock, valued at approximately $306,000.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of The Descartes Systems Group in the fourth quarter valued at approximately $19,392,000. APG Asset Management N.V. grew its position in shares of The Descartes Systems Group by 374.0% in 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. Bank of Nova Scotia grew its position in shares of The Descartes Systems Group by 1.2% in the fourth quarter. Bank of Nova Scotia now owns 459,576 shares of the technology company’s stock valued at $52,233,000 after purchasing an additional 5,399 shares in the last quarter. Cerity Partners LLC grew its position in shares of The Descartes Systems Group by 44.9% in the fourth quarter. Cerity Partners LLC now owns 3,497 shares of the technology company’s stock valued at $392,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of The Descartes Systems Group by 42.9% in the fourth quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company’s stock valued at $748,000 after purchasing an additional 1,977 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. Loop Capital assumed coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Barclays decreased their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Scotiabank upped their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. Finally, StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.50.

The Descartes Systems Group Stock Up 9.2 %

NASDAQ:DSGX opened at $102.77 on Thursday. The stock’s fifty day moving average is $106.68 and its two-hundred day moving average is $110.20. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 64.64 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal 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.