The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,737 shares of the technology company’s stock after acquiring an additional 8,537 shares during the quarter. Northern Trust Corp owned about 0.09% of The Descartes Systems Group worth $9,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mather Group LLC. lifted its stake in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. GeoWealth Management LLC boosted its stake in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after buying an additional 132 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in The Descartes Systems Group in the 4th quarter valued at $43,000. Trust Co. of Vermont purchased a new stake in The Descartes Systems Group in the 4th quarter valued at $54,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group in the 4th quarter worth $57,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 0.7%

DSGX opened at $113.50 on Friday. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31. The business’s 50 day moving average is $103.37 and its two-hundred day moving average is $110.54. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 71.38 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates 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. Equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DSGX has been the subject of several analyst reports. Barclays dropped their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stephens decreased their price target on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. CIBC lowered their price target on 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. Finally, Scotiabank boosted their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.18.

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.