The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Position Lessened by Swiss National Bank

Swiss National Bank trimmed its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 276,724 shares of the technology company’s stock after selling 8,000 shares during the period. Swiss National Bank owned approximately 0.33% of The Descartes Systems Group worth $23,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in The Descartes Systems Group by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,065,662 shares of the technology company’s stock valued at $224,958,000 after buying an additional 49,402 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 0.7% in the third quarter. Conestoga Capital Advisors LLC now owns 3,020,914 shares of the technology company’s stock valued at $221,675,000 after acquiring an additional 20,875 shares in the last quarter. Fiera Capital Corp increased its stake in shares of The Descartes Systems Group by 5.6% during the third quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock valued at $163,085,000 after acquiring an additional 117,611 shares during the period. Mackenzie Financial Corp raised its holdings in The Descartes Systems Group by 8.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,914,238 shares of the technology company’s stock worth $160,912,000 after purchasing an additional 154,110 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in The Descartes Systems Group by 2.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,544,300 shares of the technology company’s stock worth $113,339,000 after purchasing an additional 41,854 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $97.60 on Thursday. The firm’s 50 day moving average price is $91.87 and its two-hundred day moving average price is $85.79. The Descartes Systems Group Inc. has a twelve month low of $69.59 and a twelve month high of $97.61. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 72.84 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The Descartes Systems Group’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DSGX. Royal Bank of Canada reiterated an “outperform” rating and set a $110.00 price target on shares of The Descartes Systems Group in a research report on Thursday, April 11th. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Scotiabank raised their price objective on shares of The Descartes Systems Group from $95.00 to $100.00 and gave the company a “sector outperform” rating in a research report on Thursday, March 7th. Barclays increased their target price on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. Finally, Stephens lifted their price target on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

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.