Quantbot Technologies LP Increases Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Quantbot Technologies LP lifted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 511.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,902 shares of the technology company’s stock after purchasing an additional 17,486 shares during the quarter. Quantbot Technologies LP’s holdings in The Descartes Systems Group were worth $2,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in The Descartes Systems Group by 14.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock worth $96,000 after buying an additional 108 shares during the last quarter. Mather Group LLC. boosted its holdings in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. Allworth Financial LP boosted its holdings in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after buying an additional 182 shares during the last quarter. Northwest & Ethical Investments L.P. boosted 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 buying an additional 222 shares during the last quarter. Finally, Barclays PLC boosted its holdings 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 worth $1,031,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lowered their price objective on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Scotiabank boosted their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. BMO Capital Markets lowered their target price on 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. TD Securities boosted their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, CIBC lowered their target price on 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, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Stock Performance

DSGX stock opened at $101.15 on Monday. The firm has a market cap of $8.66 billion, a PE ratio of 63.62 and a beta of 0.99. The firm’s 50 day moving average price is $111.47 and its 200-day moving average price is $110.18. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $167.50 million for 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%. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal 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.