The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Huntington National Bank

Huntington National Bank lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 146.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,067 shares of the technology company’s stock after purchasing an additional 634 shares during the period. Huntington National Bank’s holdings in The Descartes Systems Group were worth $121,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. lifted its holdings in The Descartes Systems Group by 301.7% during 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. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth about $43,000. Trust Co. of Vermont purchased a new stake in The Descartes Systems Group during the fourth quarter worth approximately $54,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in The Descartes Systems Group in the fourth quarter valued at approximately $57,000. Finally, GAMMA Investing LLC increased its stake in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $95.84 on Monday. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year high of $124.31. The company has a market cap of $8.20 billion, a P/E ratio of 60.28 and a beta of 0.99. The firm has a fifty day moving average of $108.55 and a two-hundred day moving average of $110.48.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $169.97 million. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. 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. CIBC decreased their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Barclays dropped their price objective 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. BMO Capital Markets reduced 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 report on Thursday, March 6th. Finally, StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.50.

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.