Zurcher Kantonalbank Zurich Cantonalbank Has $4.54 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 224.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,822 shares of the technology company’s stock after buying an additional 32,406 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of The Descartes Systems Group worth $4,536,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in The Descartes Systems Group in the 4th quarter worth about $92,571,000. Westfield Capital Management Co. LP bought a new stake in shares of The Descartes Systems Group during the 1st quarter valued at approximately $47,481,000. Clearbridge Investments LLC acquired a new position in The Descartes Systems Group during the 4th quarter worth approximately $36,767,000. Price T Rowe Associates Inc. MD lifted its stake in The Descartes Systems Group by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock valued at $695,864,000 after purchasing an additional 278,796 shares during the last quarter. Finally, Riverbridge Partners LLC boosted its position in The Descartes Systems Group by 36.6% in the first quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock valued at $89,389,000 after buying an additional 261,688 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $100.89 on Friday. The company’s 50 day moving average price is $98.84 and its 200-day moving average price is $94.65. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $104.71. The company has a market capitalization of $8.61 billion, a P/E ratio of 72.06 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). The Descartes Systems Group had a net margin of 20.62% and a return on equity of 9.96%. The firm had revenue of $151.30 million during the quarter, compared to analyst estimates of $151.80 million. During the same quarter in the previous year, the firm earned $0.34 EPS. The Descartes Systems Group’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts forecast that The Descartes Systems Group Inc. will post 1.7 earnings per share for the current year.

Analyst Ratings Changes

DSGX has been the subject of several research analyst reports. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Scotiabank increased their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research report on Friday, May 31st. Redburn Atlantic initiated coverage on The Descartes Systems Group in a report on Tuesday, May 14th. They set a “neutral” rating and a $90.00 price target on the stock. Raymond James upped their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. Finally, Barclays lifted their target price on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.00.

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.