R Squared Ltd Acquires New Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

R Squared Ltd bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 790 shares of the technology company’s stock, valued at approximately $90,000.

A number of other institutional investors have also recently modified their holdings of DSGX. National Bank of Canada FI boosted its stake in The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after purchasing an additional 556,408 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of The Descartes Systems Group by 12.1% in the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after buying an additional 72,501 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of The Descartes Systems Group by 52.5% in the third quarter. Vontobel Holding Ltd. now owns 210,280 shares of the technology company’s stock worth $21,636,000 after buying an additional 72,435 shares in the last quarter. Canoe Financial LP bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $7,939,000. Finally, DF Dent & Co. Inc. raised its holdings in The Descartes Systems Group by 27.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 279,675 shares of the technology company’s stock worth $28,795,000 after acquiring an additional 61,080 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DSGX. Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. TD Securities increased their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Scotiabank raised their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Stock Up 1.3 %

DSGX stock opened at $117.46 on Friday. The business’s 50-day moving average price is $116.25 and its 200-day moving average price is $107.44. The stock has a market cap of $10.05 billion, a P/E ratio of 73.87 and a beta of 0.99. The Descartes Systems Group Inc. has a twelve month low of $84.12 and a twelve month high of $122.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same quarter in the previous year, the company posted $0.31 EPS. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.