Virtu Financial LLC Makes New $269,000 Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Virtu Financial LLC bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,370 shares of the technology company’s stock, valued at approximately $269,000.

Several other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in The Descartes Systems Group in the 4th quarter valued at $43,000. Jane Street Group LLC grew its holdings in shares of The Descartes Systems Group by 20.4% in the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock worth $1,368,000 after purchasing an additional 2,250 shares during the last quarter. Barclays PLC increased its stake in The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after buying an additional 270 shares during the period. Canoe Financial LP bought a new stake in The Descartes Systems Group during the 4th quarter valued at about $7,939,000. Finally, Geode Capital Management LLC boosted its position in The Descartes Systems Group by 10.7% in the 3rd quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company’s stock valued at $50,277,000 after buying an additional 46,523 shares during the period. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DSGX. 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 price target for the company. Scotiabank lifted their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Stephens dropped 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. BMO Capital Markets cut their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Finally, Barclays lowered their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.50.

The Descartes Systems Group Trading Down 1.4 %

Shares of DSGX stock opened at $100.24 on Friday. The company has a market cap of $8.58 billion, a PE ratio of 63.04 and a beta of 0.99. The Descartes Systems Group Inc. has a 12-month low of $87.20 and a 12-month high of $124.31. The business’s fifty day simple moving average is $110.36 and its 200-day simple moving average is $110.23.

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, meeting 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 during the quarter, compared to analysts’ expectations of $169.97 million. On average, equities analysts forecast 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.