Norges Bank Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Norges Bank bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,117,953 shares of the technology company’s stock, valued at approximately $126,918,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Blair William & Co. IL grew its stake in The Descartes Systems Group by 3.7% during the 4th quarter. Blair William & Co. IL now owns 325,958 shares of the technology company’s stock valued at $37,029,000 after purchasing an additional 11,560 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of The Descartes Systems Group by 100.2% during the 4th quarter. JPMorgan Chase & Co. now owns 126,334 shares of the technology company’s stock valued at $14,352,000 after buying an additional 63,236 shares during the last quarter. Korea Investment CORP grew its position in shares of The Descartes Systems Group by 115.8% during the fourth quarter. Korea Investment CORP now owns 42,301 shares of the technology company’s stock worth $4,806,000 after buying an additional 22,700 shares in the last quarter. Summitry LLC increased its stake in shares of The Descartes Systems Group by 27.1% in the fourth quarter. Summitry LLC now owns 2,954 shares of the technology company’s stock worth $336,000 after buying an additional 629 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in The Descartes Systems Group in the fourth quarter valued at $57,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $100.83 on Tuesday. The firm has a market capitalization of $8.63 billion, a P/E ratio of 63.42 and a beta of 0.99. The company has a 50-day simple moving average of $110.06 and a 200-day simple moving average of $110.44. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DSGX shares. Stephens dropped their target price on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research note on Friday. BMO Capital Markets decreased their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Barclays lowered 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 report on Thursday, March 6th. Finally, StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.50.

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.