Allworth Financial LP Raises Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Allworth Financial LP raised its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 39.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 639 shares of the technology company’s stock after purchasing an additional 182 shares during the quarter. Allworth Financial LP’s holdings in The Descartes Systems Group were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DSGX. Mather Group LLC. grew its holdings in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $54,000. GAMMA Investing LLC increased its holdings in The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after purchasing an additional 495 shares during the period. Blue Trust Inc. raised its position in The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in The Descartes Systems Group in the 4th quarter worth approximately $90,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DSGX. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. BMO Capital Markets boosted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Finally, Royal Bank of Canada lifted their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Trading Down 0.9 %

Shares of NASDAQ:DSGX opened at $110.83 on Tuesday. The stock has a fifty day simple moving average of $115.51 and a two-hundred day simple moving average of $109.61. The Descartes Systems Group Inc. has a 12-month low of $84.83 and a 12-month high of $124.31. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 69.70 and a beta of 0.99.

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

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.