Forsta AP Fonden Has $107,000 Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Forsta AP Fonden lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 78.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,100 shares of the technology company’s stock after selling 4,100 shares during the quarter. Forsta AP Fonden’s holdings in The Descartes Systems Group were worth $107,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in DSGX. TD Asset Management Inc grew its holdings in The Descartes Systems Group by 10.5% during the 4th quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock worth $65,201,000 after acquiring an additional 73,410 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of The Descartes Systems Group by 7.0% during the first quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock valued at $15,517,000 after purchasing an additional 11,025 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of The Descartes Systems Group by 13.6% in the fourth quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after purchasing an additional 18,700 shares in the last quarter. Russell Investments Group Ltd. raised its position in The Descartes Systems Group by 3.4% in the 1st quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock worth $24,043,000 after purchasing an additional 8,722 shares during the last quarter. Finally, Zeno Equity Partners LLP acquired a new position in The Descartes Systems Group during the 4th quarter worth $11,108,000. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on DSGX. CIBC boosted their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Canaccord Genuity Group set a $108.00 target price on shares of The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Barclays raised their price objective on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the company an “underweight” rating in a research note on Thursday, September 5th. Finally, Scotiabank upped their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

The Descartes Systems Group Stock Up 1.3 %

Shares of DSGX stock opened at $99.55 on Tuesday. The firm has a market cap of $8.50 billion, a PE ratio of 71.11 and a beta of 0.98. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $104.71. The company’s fifty day simple moving average is $98.89 and its 200-day simple moving average is $95.63.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. On average, equities analysts predict that The Descartes Systems Group Inc. will post 1.67 earnings per share 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.