Virtu Financial LLC Buys New Shares in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Virtu Financial LLC purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,370 shares of the technology company’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DSGX. National Bank of Canada FI raised its holdings in shares of 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 worth $71,911,000 after purchasing an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of The Descartes Systems Group by 104.5% during the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock valued at $48,819,000 after buying an additional 219,736 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at about $19,392,000. Allspring Global Investments Holdings LLC boosted its stake in shares of The Descartes Systems Group by 18.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after buying an additional 102,208 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in The Descartes Systems Group by 12.1% during the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after acquiring an additional 72,501 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $100.24 on Friday. The stock has a 50 day moving average price of $110.36 and a 200 day moving average price of $110.23. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year high of $124.31. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 63.04 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

DSGX has been the topic of several recent research reports. Scotiabank upped their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. BMO Capital Markets lowered their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. CIBC cut their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays dropped their target price on 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. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.50.

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.