Mitsubishi UFJ Trust & Banking Corp Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Mitsubishi UFJ Trust & Banking Corp bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 500 shares of the technology company’s stock, valued at approximately $57,000.

Other large investors have also made changes to their positions in the company. FMR LLC boosted its position in The Descartes Systems Group by 2.8% in the third quarter. FMR LLC now owns 150,654 shares of the technology company’s stock valued at $15,503,000 after buying an additional 4,067 shares in the last quarter. Quantbot Technologies LP bought a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $352,000. BNP Paribas Financial Markets bought a new stake in The Descartes Systems Group during the 3rd quarter worth approximately $926,000. Verition Fund Management LLC acquired a new stake in The Descartes Systems Group during the 3rd quarter valued at $313,000. Finally, Reynders McVeigh Capital Management LLC boosted its stake in The Descartes Systems Group by 2.7% in the third quarter. Reynders McVeigh Capital Management LLC now owns 45,330 shares of the technology company’s stock worth $4,667,000 after purchasing an additional 1,205 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on DSGX shares. Loop Capital initiated coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price for the company. Stephens dropped their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Scotiabank increased their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research note on Wednesday, March 26th. CIBC reduced 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. Finally, TD Securities lifted their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.50.

The Descartes Systems Group Trading Up 2.1 %

The Descartes Systems Group stock opened at $104.01 on Thursday. The firm has a market capitalization of $8.90 billion, a P/E ratio of 65.42 and a beta of 0.99. The business has a 50-day moving average of $109.40 and a 200-day moving average of $110.42. The Descartes Systems Group Inc. has a 1 year low of $87.20 and a 1 year high of $124.31.

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

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.