Praesidium Investment Management Company LLC Purchases Shares of 481,725 The Descartes Systems Group Inc. (NASDAQ:DSGX)

Praesidium Investment Management Company LLC purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 481,725 shares of the technology company’s stock, valued at approximately $54,724,000. The Descartes Systems Group comprises 9.2% of Praesidium Investment Management Company LLC’s holdings, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP increased its position in The Descartes Systems Group by 22.3% during the fourth quarter. Quantinno Capital Management LP now owns 6,821 shares of the technology company’s stock worth $775,000 after buying an additional 1,243 shares during the last quarter. Man Group plc grew its position in shares of The Descartes Systems Group by 13.6% in the fourth quarter. Man Group plc now owns 143,042 shares of the technology company’s stock valued at $16,252,000 after purchasing an additional 17,091 shares during the last quarter. Nicholas Investment Partners LP grew its position in The Descartes Systems Group by 3.3% during the fourth quarter. Nicholas Investment Partners LP now owns 99,559 shares of the technology company’s stock worth $11,310,000 after buying an additional 3,183 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in The Descartes Systems Group during the fourth quarter worth approximately $1,347,000. Finally, Janus Henderson Group PLC grew its position in The Descartes Systems Group by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 635,722 shares of the technology company’s stock worth $72,228,000 after buying an additional 3,554 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DSGX shares. CIBC reduced their price target on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. Barclays dropped their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Scotiabank raised their target price on 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. Four research 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. According to data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $122.18.

The Descartes Systems Group Trading Down 1.3%

NASDAQ:DSGX opened at $112.49 on Thursday. The stock has a market capitalization of $9.63 billion, a PE ratio of 70.75 and a beta of 0.88. The firm’s 50 day moving average is $102.73 and its 200 day moving average is $110.42. The Descartes Systems Group Inc. has a 12 month low of $89.00 and a 12 month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Company 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.