D. E. Shaw & Co. Inc. Purchases 5,937 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

D. E. Shaw & Co. Inc. boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,238 shares of the technology company’s stock after purchasing an additional 5,937 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in The Descartes Systems Group were worth $3,549,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in The Descartes Systems Group by 14.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock worth $96,000 after purchasing an additional 108 shares in the last quarter. GeoWealth Management LLC raised its holdings in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock worth $39,000 after purchasing an additional 132 shares in the last quarter. Mather Group LLC. increased its holdings in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Allworth Financial LP increased its holdings in shares of The Descartes Systems Group by 39.8% during the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after acquiring an additional 182 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. increased its holdings in shares of The Descartes Systems Group by 1.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock valued at $2,677,000 after acquiring an additional 222 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on DSGX. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. CIBC cut their price objective on shares of 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. Barclays cut their price objective on shares of 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, Scotiabank upped their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $122.18.

The Descartes Systems Group Price Performance

DSGX stock opened at $113.50 on Monday. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The firm has a market capitalization of $9.72 billion, a PE ratio of 71.38 and a beta of 0.88. The business has a 50 day simple moving average of $103.37 and a 200-day simple moving average of $110.59.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $169.97 million. On average, equities research analysts expect 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.