Arrowstreet Capital Limited Partnership Boosts Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Arrowstreet Capital Limited Partnership raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 114.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,199,377 shares of the technology company’s stock after buying an additional 639,848 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in The Descartes Systems Group were worth $136,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Mather Group LLC. lifted its stake in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of The Descartes Systems Group during the fourth quarter worth $43,000. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group during the fourth quarter valued at $54,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of The Descartes Systems Group in the fourth quarter worth about $57,000. Finally, GAMMA Investing LLC grew its holdings in shares of The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after purchasing an additional 495 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DSGX shares. 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 for the company in a research report on Thursday, March 6th. CIBC dropped 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 note on Thursday, March 6th. Barclays decreased their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday. Finally, Stephens lowered their price objective on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Five investment 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.50.

The Descartes Systems Group Stock Down 1.4 %

Shares of DSGX opened at $100.24 on Monday. The company has a 50 day moving average of $110.36 and a two-hundred day moving average of $110.33. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The company has a market cap 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 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 firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. On average, sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.