Quantbot Technologies LP Buys 17,486 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Quantbot Technologies LP raised its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 511.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,902 shares of the technology company’s stock after acquiring an additional 17,486 shares during the quarter. Quantbot Technologies LP’s holdings in The Descartes Systems Group were worth $2,374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DSGX. Intech Investment Management LLC boosted its position in The Descartes Systems Group by 41.6% during the 3rd quarter. Intech Investment Management LLC now owns 10,671 shares of the technology company’s stock valued at $1,099,000 after acquiring an additional 3,134 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The Descartes Systems Group by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock worth $48,456,000 after purchasing an additional 9,768 shares in the last quarter. Nicolet Advisory Services LLC boosted its position in shares of The Descartes Systems Group by 6.4% in the 3rd quarter. Nicolet Advisory Services LLC now owns 5,485 shares of the technology company’s stock worth $551,000 after purchasing an additional 331 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of The Descartes Systems Group by 3.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 585,163 shares of the technology company’s stock worth $60,248,000 after purchasing an additional 20,205 shares in the last quarter. Finally, FMR LLC boosted its position in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. FMR LLC now owns 150,654 shares of the technology company’s stock worth $15,503,000 after purchasing an additional 4,067 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $101.15 on Monday. The stock has a 50-day simple moving average of $111.47 and a two-hundred day simple moving average of $110.18. The firm has a market capitalization of $8.66 billion, a P/E ratio of 63.62 and a beta of 0.99. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Securities raised their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays lowered their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Loop Capital assumed coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Stephens lowered their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.33.

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.