Citigroup Inc. Has $14.80 Million Position in The Descartes Systems Group Inc. $DSGX

Citigroup Inc. increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 128.0% during the third quarter, Holdings Channel reports. The institutional investor owned 157,167 shares of the technology company’s stock after purchasing an additional 88,245 shares during the quarter. Citigroup Inc.’s holdings in The Descartes Systems Group were worth $14,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in shares of The Descartes Systems Group in the 3rd quarter valued at $8,528,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at about $2,460,000. Grandeur Peak Global Advisors LLC increased its stake in The Descartes Systems Group by 41.2% in the second quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 108,250 shares during the period. CIBC Asset Management Inc raised its position in The Descartes Systems Group by 15.3% in the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock worth $91,369,000 after purchasing an additional 127,762 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in The Descartes Systems Group in the third quarter worth about $10,031,000. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $66.25 on Friday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 37.43 and a beta of 0.75. The stock has a fifty day moving average price of $77.86 and a two-hundred day moving average price of $88.17. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The company had revenue of $186.78 million during the quarter, compared to analyst estimates of $184.24 million. During the same period last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on DSGX. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Morgan Stanley upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Barclays upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $106.00 to $105.00 in a research note on Monday, January 12th. Finally, TD Securities upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $114.20.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.