First Trust Advisors LP Buys 2,820 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

First Trust Advisors LP increased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,389 shares of the technology company’s stock after acquiring an additional 2,820 shares during the period. First Trust Advisors LP’s holdings in The Descartes Systems Group were worth $1,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Freedom Investment Management Inc. bought a new stake in The Descartes Systems Group in the fourth quarter valued at approximately $255,000. GeoWealth Management LLC raised its holdings in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after buying an additional 132 shares during the last quarter. NewEdge Advisors LLC boosted its position in The Descartes Systems Group by 10.9% during the 4th quarter. NewEdge Advisors LLC now owns 3,427 shares of the technology company’s stock valued at $389,000 after buying an additional 336 shares during the period. EAM Global Investors LLC purchased a new stake in The Descartes Systems Group during the 4th quarter valued at $2,953,000. Finally, EAM Investors LLC bought a new stake in The Descartes Systems Group in the 4th quarter worth $1,239,000. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

DSGX has been the topic of a number of research analyst reports. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. CIBC reduced their target price on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. 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 research note on Thursday, March 6th. Barclays reduced their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research report on Friday, March 28th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $119.50.

The Descartes Systems Group Stock Down 0.0 %

Shares of DSGX opened at $107.64 on Wednesday. The stock has a market cap of $9.21 billion, a P/E ratio of 67.70 and a beta of 0.88. The business’s 50 day moving average price is $102.33 and its 200-day moving average price is $110.25. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31.

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, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Company Profile

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.