George Kaiser Family Foundation Buys Shares of 34,575 The Descartes Systems Group Inc. (NASDAQ:DSGX)

George Kaiser Family Foundation purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 34,575 shares of the technology company’s stock, valued at approximately $3,928,000. The Descartes Systems Group accounts for approximately 0.6% of George Kaiser Family Foundation’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in The Descartes Systems Group by 14.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock valued at $96,000 after purchasing an additional 108 shares in the last quarter. Mather Group LLC. grew its holdings in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. Allworth Financial LP increased its position in shares of The Descartes Systems Group by 39.8% during the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after acquiring an additional 182 shares in the last quarter. Northwest & Ethical Investments L.P. raised its holdings in The Descartes Systems Group by 1.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock worth $2,677,000 after acquiring an additional 222 shares during the last quarter. Finally, Barclays PLC lifted its position 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 valued at $1,031,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DSGX. BMO Capital Markets reduced their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. Scotiabank upped their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research note on Wednesday, March 26th. Stephens dropped their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. Finally, CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.50.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $100.67 on Friday. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31. The company’s fifty day simple moving average is $109.01 and its 200-day simple moving average is $110.35. The stock has a market capitalization of $8.62 billion, a PE ratio of 63.31 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 for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $169.97 million. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS 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.