AtonRa Partners Boosts Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

AtonRa Partners boosted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,639 shares of the technology company’s stock after buying an additional 137 shares during the quarter. The Descartes Systems Group comprises about 1.4% of AtonRa Partners’ investment portfolio, making the stock its 14th largest holding. AtonRa Partners’ holdings in The Descartes Systems Group were worth $726,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC acquired a new position in shares of The Descartes Systems Group in the 3rd quarter valued at $35,000. Signaturefd LLC grew its holdings in shares of The Descartes Systems Group by 26.7% during the third quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after purchasing an additional 147 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of The Descartes Systems Group during the third quarter worth about $64,000. SG Americas Securities LLC acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $209,000. Finally, Intellectus Partners LLC purchased a new stake in shares of The Descartes Systems Group in the 4th quarter valued at about $227,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of DSGX stock traded down $0.47 during trading hours on Monday, reaching $93.77. 262,965 shares of the company’s stock were exchanged, compared to its average volume of 165,091. The company’s 50 day moving average is $90.38 and its two-hundred day moving average is $84.65. The company has a market cap of $7.99 billion, a P/E ratio of 69.98 and a beta of 0.94. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $96.10.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $146.62 million. During the same period in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, analysts predict that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays lifted their price target on The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Stephens upped their price target on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a research note on Monday, April 1st. TD Securities lifted their price objective on shares of The Descartes Systems Group from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $110.00 target price on shares of The Descartes Systems Group in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $98.44.

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.