Shell Asset Management Co. Acquires 172 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Shell Asset Management Co. boosted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 9,714 shares of the technology company’s stock after purchasing an additional 172 shares during the period. Shell Asset Management Co.’s holdings in The Descartes Systems Group were worth $1,104,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of The Descartes Systems Group during the 4th quarter worth approximately $126,918,000. Arrowstreet Capital Limited Partnership boosted its stake in The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after acquiring an additional 639,848 shares in the last quarter. Praesidium Investment Management Company LLC bought a new position in The Descartes Systems Group during the fourth quarter worth $54,724,000. Franklin Resources Inc. grew its holdings in The Descartes Systems Group by 23.9% in the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after purchasing an additional 326,643 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in The Descartes Systems Group by 104.5% in the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock valued at $48,819,000 after purchasing an additional 219,736 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DSGX has been the topic of a number of research analyst reports. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays cut their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. Stephens cut their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, BMO Capital Markets reduced their price target 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. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $122.18.

The Descartes Systems Group Trading Up 0.7%

NASDAQ DSGX opened at $113.50 on Friday. The firm has a market capitalization of $9.72 billion, a P/E ratio of 71.38 and a beta of 0.88. The business has a fifty day simple moving average of $103.37 and a 200 day simple moving average of $110.54. The Descartes Systems Group Inc. has a 12 month low of $89.00 and a 12 month 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 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. As a group, sell-side 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.