Arrowstreet Capital Limited Partnership Acquires 639,848 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Arrowstreet Capital Limited Partnership increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 114.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,199,377 shares of the technology company’s stock after purchasing an additional 639,848 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.40% of The Descartes Systems Group worth $136,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in The Descartes Systems Group during the 4th quarter valued at about $126,918,000. National Bank of Canada FI lifted its position in The Descartes Systems Group by 389.8% during the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after purchasing an additional 556,408 shares during the period. Vontobel Holding Ltd. boosted its holdings in The Descartes Systems Group by 104.5% in the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after purchasing an additional 219,736 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in The Descartes Systems Group in the fourth quarter worth approximately $19,392,000. Finally, Allspring Global Investments Holdings LLC grew its position in The Descartes Systems Group by 18.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after purchasing an additional 102,208 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities 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 note on Friday. Barclays cut their price target on 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. BMO Capital Markets lowered their price objective on shares of 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. Stephens dropped their price objective on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Stock Performance

DSGX stock opened at $100.24 on Monday. The firm has a fifty day moving average price of $110.36 and a 200 day moving average price of $110.33. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The firm has a market cap of $8.58 billion, a PE ratio of 63.04 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results 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 net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group 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.