Signaturefd LLC Boosts Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Signaturefd LLC lifted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 12.0% in the 4th quarter, HoldingsChannel reports. The firm owned 2,717 shares of the technology company’s stock after purchasing an additional 292 shares during the quarter. Signaturefd LLC’s holdings in The Descartes Systems Group were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank raised its holdings in shares of The Descartes Systems Group by 1.1% during the third quarter. Swiss National Bank now owns 258,324 shares of the technology company’s stock worth $26,624,000 after purchasing an additional 2,700 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of The Descartes Systems Group by 1.8% in the 3rd quarter. Pathstone Holdings LLC now owns 53,434 shares of the technology company’s stock valued at $5,502,000 after buying an additional 934 shares during the period. Avior Wealth Management LLC boosted its stake in shares of The Descartes Systems Group by 2.8% in the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock worth $440,000 after buying an additional 117 shares during the last quarter. Intech Investment Management LLC grew its holdings in The Descartes Systems Group by 41.6% during the third quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock worth $1,099,000 after acquiring an additional 3,134 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in The Descartes Systems Group by 2.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after acquiring an additional 9,768 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DSGX shares. CIBC lowered their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays dropped 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. Loop Capital started coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. BMO Capital Markets cut their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Finally, Stephens lowered their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Five 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. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $101.15 on Friday. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The company has a 50 day moving average price of $111.47 and a 200 day moving average price of $110.03. The stock has a market capitalization of $8.66 billion, a P/E ratio of 63.62 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share 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 business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS 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.