Summitry LLC Has $336,000 Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Summitry LLC boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 27.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,954 shares of the technology company’s stock after buying an additional 629 shares during the quarter. Summitry LLC’s holdings in The Descartes Systems Group were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in The Descartes Systems Group by 41.6% in the 3rd quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock valued at $1,099,000 after purchasing an additional 3,134 shares during the last quarter. FMR LLC raised its stake in The Descartes Systems Group by 2.8% in the third quarter. FMR LLC now owns 150,654 shares of the technology company’s stock valued at $15,503,000 after buying an additional 4,067 shares during the period. Quantbot Technologies LP acquired a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $352,000. BNP Paribas Financial Markets bought a new position in shares of The Descartes Systems Group during the 3rd quarter worth approximately $926,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of The Descartes Systems Group during the 3rd quarter worth approximately $2,404,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DSGX. Royal Bank of Canada cut their price target on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. CIBC reduced their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Loop Capital started coverage on shares of The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. Stephens decreased their target price on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, BMO Capital Markets dropped their price target 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. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group Stock Performance

DSGX opened at $105.54 on Wednesday. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31. The firm has a market cap of $9.03 billion, a P/E ratio of 66.38 and a beta of 0.99. The business’s fifty day moving average is $111.31 and its 200-day moving average is $110.23.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The firm had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.