APG Asset Management US Inc. Makes New $306,000 Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

APG Asset Management US Inc. acquired a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,691 shares of the technology company’s stock, valued at approximately $306,000.

Several other institutional investors also recently bought and sold shares of the company. 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 during the period. Franklin Resources Inc. increased its holdings in shares of The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of The Descartes Systems Group by 114.4% in 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 during the period. Norges Bank purchased a new position in shares of The Descartes Systems Group in the 4th quarter valued at $126,918,000. Finally, TD Asset Management Inc. increased its holdings 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 valued at $102,224,000 after acquiring an additional 28,204 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Up 9.2 %

Shares of DSGX stock opened at $102.77 on Thursday. The stock has a market cap of $8.80 billion, a PE ratio of 64.64 and a beta of 0.97. The business has a 50-day simple moving average of $106.68 and a 200-day simple moving average of $110.20. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week 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 the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Scotiabank lifted their price target on 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. Stephens cut their price target on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday. CIBC cut 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. 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 research note on Thursday, March 6th. Finally, Loop Capital started coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average target price of $119.50.

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.