Geode Capital Management LLC Has $67.93 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Geode Capital Management LLC lifted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 590,010 shares of the technology company’s stock after acquiring an additional 110,329 shares during the period. Geode Capital Management LLC’s holdings in The Descartes Systems Group were worth $67,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock worth $375,047,000 after purchasing an additional 54,341 shares in the last quarter. Franklin Resources Inc. grew its holdings in The Descartes Systems Group by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after buying an additional 326,643 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in The Descartes Systems Group by 114.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after acquiring an additional 639,848 shares in the last quarter. Norges Bank purchased a new position in The Descartes Systems Group during the 4th quarter worth $126,918,000. Finally, TD Asset Management Inc. grew its stake in shares of The Descartes Systems Group by 3.2% in the 4th quarter. TD Asset Management Inc. now owns 899,762 shares of the technology company’s stock worth $102,224,000 after acquiring an additional 28,204 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays cut 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 research note on Thursday, March 6th. CIBC dropped their price target 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. Stephens reduced their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets lowered their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued 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 target price of $119.50.

The Descartes Systems Group Trading Up 1.0 %

The Descartes Systems Group stock opened at $101.74 on Friday. The firm has a 50 day simple moving average of $106.10 and a 200 day simple moving average of $110.18. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 63.99 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released 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 return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. On average, equities research analysts forecast 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.