Amundi Increases Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Amundi boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,042 shares of the technology company’s stock after purchasing an additional 9,684 shares during the period. Amundi owned approximately 0.06% of The Descartes Systems Group worth $6,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. National Bank of Canada FI lifted its holdings in The Descartes Systems Group by 389.8% in the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after acquiring an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of The Descartes Systems Group by 104.5% in the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock valued at $48,819,000 after purchasing an additional 219,736 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of The Descartes Systems Group during the 4th quarter worth $19,392,000. Allspring Global Investments Holdings LLC increased its position in shares of The Descartes Systems Group by 18.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after purchasing an additional 102,208 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in The Descartes Systems Group by 12.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after buying an additional 72,501 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on DSGX. Stephens dropped their price target on shares of 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. TD Securities boosted their target price 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 lowered their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Barclays cut their price objective 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. Finally, Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.33.

The Descartes Systems Group Stock Up 2.3 %

NASDAQ DSGX opened at $99.39 on Friday. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31. The firm has a 50 day moving average of $112.73 and a two-hundred day moving average of $110.10. The stock has a market capitalization of $8.51 billion, a PE ratio of 62.51 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm 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%. On average, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.