Royal Bank of Canada Decreases Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Royal Bank of Canada cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 568,639 shares of the technology company’s stock after selling 72,688 shares during the quarter. Royal Bank of Canada owned approximately 0.66% of The Descartes Systems Group worth $64,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock valued at $375,047,000 after buying an additional 54,341 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in The Descartes Systems Group by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company’s stock valued at $200,716,000 after buying an additional 101,290 shares in the last quarter. Franklin Resources Inc. lifted its stake in The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after buying an additional 326,643 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after buying an additional 639,848 shares in the last quarter. Finally, Norges Bank purchased a new position in The Descartes Systems Group in the 4th quarter worth approximately $126,918,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Scotiabank raised their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, March 26th. Stephens decreased their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. Finally, CIBC decreased 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 research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.18.

The Descartes Systems Group Trading Up 1.7%

The Descartes Systems Group stock opened at $114.14 on Wednesday. The Descartes Systems Group Inc. has a twelve month low of $89.00 and a twelve month high of $124.31. The stock’s fifty day simple moving average is $103.96 and its 200-day simple moving average is $110.65. The firm has a market capitalization of $9.77 billion, a P/E ratio of 71.79 and a beta of 0.88.

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 business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.