SBI Securities Co. Ltd. Acquires Shares of 378 The Descartes Systems Group Inc. (NASDAQ:DSGX)

SBI Securities Co. Ltd. purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 378 shares of the technology company’s stock, valued at approximately $43,000.

Several other institutional investors have also modified their holdings of DSGX. Assetmark Inc. increased its position in shares of The Descartes Systems Group by 3.5% during the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company’s stock worth $601,000 after purchasing an additional 197 shares during the last quarter. Versor Investments LP purchased a new stake in The Descartes Systems Group during the third quarter worth approximately $278,000. Aigen Investment Management LP purchased a new stake in The Descartes Systems Group in the third quarter valued at approximately $276,000. Cumberland Partners Ltd lifted its stake in The Descartes Systems Group by 3.7% in the third quarter. Cumberland Partners Ltd now owns 85,903 shares of the technology company’s stock valued at $8,849,000 after buying an additional 3,065 shares during the last quarter. Finally, Geneva Capital Management LLC increased its holdings in shares of The Descartes Systems Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock valued at $152,037,000 after purchasing an additional 19,002 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $97.92 on Wednesday. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 61.58 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 stock’s fifty day moving average is $113.94 and its two-hundred day moving average is $110.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $167.50 million for 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, sell-side analysts forecast 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 analysts have recently issued reports on the company. Barclays dropped their target price on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. CIBC dropped their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Scotiabank upped their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Stephens dropped their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group 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.