Point72 Asset Management L.P. Takes $638,000 Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Point72 Asset Management L.P. purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,620 shares of the technology company’s stock, valued at approximately $638,000.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in The Descartes Systems Group by 14.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock worth $96,000 after buying an additional 108 shares during the last quarter. GeoWealth Management LLC increased its stake in shares of The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after buying an additional 132 shares during the period. Mather Group LLC. grew its stake in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Allworth Financial LP grew its stake in The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after purchasing an additional 182 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its stake in The Descartes Systems Group by 1.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock worth $2,677,000 after purchasing an additional 222 shares during the period. Institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stephens lowered 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, April 9th. BMO Capital Markets lowered their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. Barclays lowered 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 report on Thursday, March 6th. Finally, CIBC reduced their price target on 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. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group Trading Up 0.6%

NASDAQ:DSGX opened at $114.20 on Friday. The Descartes Systems Group Inc. has a 12-month low of $89.00 and a 12-month high of $124.31. The stock has a 50-day moving average price of $104.52 and a 200 day moving average price of $110.72. The stock has a market capitalization of $9.78 billion, a P/E ratio of 71.82 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share 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%. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.