Focus Partners Wealth Buys 865 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Focus Partners Wealth grew its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 32,656 shares of the technology company’s stock after purchasing an additional 865 shares during the quarter. Focus Partners Wealth’s holdings in The Descartes Systems Group were worth $3,710,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DSGX. Norges Bank bought a new position in The Descartes Systems Group in the 4th quarter worth about $126,918,000. Arrowstreet Capital Limited Partnership grew its stake in 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 worth $136,175,000 after acquiring an additional 639,848 shares in the last quarter. Franklin Resources Inc. grew its stake in 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 worth $192,502,000 after acquiring an additional 326,643 shares in the last quarter. Vontobel Holding Ltd. grew its stake in 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 worth $48,819,000 after acquiring an additional 219,736 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in The Descartes Systems Group in the 4th quarter worth about $19,392,000. 77.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DSGX shares. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. CIBC lowered their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Scotiabank upped their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 26th. Stephens lowered their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Barclays lowered their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Four 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.18.

The Descartes Systems Group Stock Down 1.3%

NASDAQ:DSGX opened at $112.49 on Thursday. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31. The firm has a 50 day moving average of $102.73 and a 200 day moving average of $110.42. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 70.75 and a beta of 0.88.

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 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 company had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.