Arrowstreet Capital Limited Partnership Buys 743,104 Shares of The Descartes Systems Group Inc. $DSGX

Arrowstreet Capital Limited Partnership lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 74.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,743,262 shares of the technology company’s stock after purchasing an additional 743,104 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in The Descartes Systems Group were worth $152,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in The Descartes Systems Group during the 3rd quarter valued at about $27,000. Danske Bank A S bought a new stake in The Descartes Systems Group during the 3rd quarter valued at about $34,000. Measured Wealth Private Client Group LLC purchased a new position in The Descartes Systems Group in the third quarter worth about $40,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of The Descartes Systems Group by 267.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after buying an additional 401 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of The Descartes Systems Group by 18.7% in the fourth quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock worth $92,000 after buying an additional 165 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DSGX. Loop Capital reiterated a “buy” rating and set a $96.00 price target on shares of The Descartes Systems Group in a report on Thursday, June 4th. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $100.00 to $90.00 in a research report on Thursday, April 16th. Morgan Stanley cut their target price on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. Weiss Ratings lowered The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce boosted their price target on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.17.

The Descartes Systems Group Trading Down 0.6%

NASDAQ:DSGX opened at $72.51 on Tuesday. The company has a market cap of $6.23 billion, a PE ratio of 36.26 and a beta of 0.64. The company has a 50 day simple moving average of $71.87 and a two-hundred day simple moving average of $75.92. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. Research analysts forecast that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

The Descartes Systems Group Profile

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.