Balyasny Asset Management L.P. purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,562 shares of the technology company’s stock, valued at approximately $973,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of DSGX. Mather Group LLC. increased its position in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. GeoWealth Management LLC increased its position in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after buying an additional 132 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in The Descartes Systems Group in the fourth quarter worth about $43,000. Trust Co. of Vermont purchased a new stake in The Descartes Systems Group in the fourth quarter worth about $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in The Descartes Systems Group in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on DSGX shares. Barclays reduced their price target 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. BMO Capital Markets cut 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 research report on Thursday, March 6th. Scotiabank increased their target price 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, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of The Descartes Systems Group in a research report on Friday, March 28th. Finally, Stephens cut their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Four equities research 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’s stock. Based on data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $122.18.
The Descartes Systems Group Trading Down 1.3%
Shares of The Descartes Systems Group stock opened at $112.49 on Thursday. The stock has a 50 day moving average of $102.73 and a 200 day moving average of $110.42. The Descartes Systems Group Inc. has a 12 month low of $89.00 and a 12 month high of $124.31. The firm has a market cap of $9.63 billion, a PE ratio of 70.75 and a beta of 0.88.
The Descartes Systems Group (NASDAQ:DSGX – Get Free Report) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting 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 company had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.
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