Skandinaviska Enskilda Banken AB publ Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Skandinaviska Enskilda Banken AB publ bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,218 shares of the technology company’s stock, valued at approximately $712,000.

Other institutional investors also recently made changes to their positions in the company. Durable Capital Partners LP raised its stake in The Descartes Systems Group by 11.5% during the 3rd quarter. Durable Capital Partners LP now owns 4,260,355 shares of the technology company’s stock valued at $270,660,000 after acquiring an additional 440,697 shares in the last quarter. Vanguard Group Inc. grew its position in The Descartes Systems Group by 3.2% during the third quarter. Vanguard Group Inc. now owns 2,892,052 shares of the technology company’s stock valued at $183,732,000 after purchasing an additional 88,518 shares in the last quarter. Bank of Montreal Can increased its position in The Descartes Systems Group by 54.1% in the 3rd quarter. Bank of Montreal Can now owns 2,658,766 shares of the technology company’s stock worth $169,178,000 after purchasing an additional 933,426 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of The Descartes Systems Group by 10.0% during the 3rd quarter. Fiera Capital Corp now owns 1,979,593 shares of the technology company’s stock valued at $122,666,000 after purchasing an additional 179,584 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in The Descartes Systems Group by 28.7% in the first quarter. Invesco Ltd. now owns 1,638,074 shares of the technology company’s stock worth $120,005,000 after purchasing an additional 365,533 shares in the last quarter. 80.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DSGX shares. Royal Bank of Canada boosted their target price on shares of The Descartes Systems Group from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, March 2nd. StockNews.com began coverage on shares of The Descartes Systems Group in a report on Thursday, March 16th. They set a “buy” rating for the company. BMO Capital Markets upped their price objective on The Descartes Systems Group from $71.00 to $78.00 and gave the stock a “market perform” rating in a report on Thursday, March 2nd. TD Securities raised their target price on shares of The Descartes Systems Group from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, March 3rd. Finally, Stephens raised their target price on The Descartes Systems Group from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $78.78.

The Descartes Systems Group Stock Down 0.4 %

NASDAQ:DSGX opened at $78.12 on Friday. The stock’s 50 day moving average price is $78.39 and its two-hundred day moving average price is $73.49. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 65.65 and a beta of 1.03. The Descartes Systems Group Inc. has a 12-month low of $57.49 and a 12-month high of $82.02.

The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last posted its earnings results on Wednesday, March 1st. The technology company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $125.10 million for the quarter, compared to the consensus estimate of $123.54 million. The Descartes Systems Group had a return on equity of 9.74% and a net margin of 21.05%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.44 EPS for the current year.

About The Descartes Systems Group

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The Descartes Systems Group, Inc engages in the provision of on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. It uses modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community.