Ameriprise Financial Inc. Has $54.44 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Ameriprise Financial Inc. lessened its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479,248 shares of the technology company’s stock after selling 9,648 shares during the quarter. Ameriprise Financial Inc. owned about 0.56% of The Descartes Systems Group worth $54,443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at about $43,000. Geode Capital Management LLC raised its holdings in The Descartes Systems Group by 23.0% during the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company’s stock worth $67,934,000 after buying an additional 110,329 shares during the period. Canoe Financial LP acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $7,939,000. Stephens Investment Management Group LLC increased its position in shares of The Descartes Systems Group by 9.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 209,176 shares of the technology company’s stock worth $23,762,000 after acquiring an additional 18,233 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of The Descartes Systems Group by 36.5% during the fourth quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company’s stock worth $1,388,000 after acquiring an additional 3,267 shares during the period. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $107.46 on Friday. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 67.58 and a beta of 0.88. The business has a fifty day simple moving average of $102.20 and a two-hundred day simple moving average of $110.28.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note 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 research report on Thursday, March 6th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research note on Wednesday, March 26th. Finally, CIBC decreased their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.