Norges Bank Buys Shares of 1,117,953 The Descartes Systems Group Inc. (NASDAQ:DSGX)

Norges Bank bought a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,117,953 shares of the technology company’s stock, valued at approximately $126,918,000. Norges Bank owned about 1.31% of The Descartes Systems Group at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of DSGX. Mather Group LLC. increased its position in The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the fourth quarter valued at approximately $43,000. Trust Co. of Vermont purchased a new position in shares of The Descartes Systems Group during the fourth quarter valued at approximately $54,000. GAMMA Investing LLC boosted its position in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in The Descartes Systems Group in the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.6 %

Shares of The Descartes Systems Group stock opened at $100.83 on Tuesday. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 63.42 and a beta of 0.99. The company has a fifty day moving average price of $110.06 and a 200 day moving average price of $110.44.

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

Wall Street Analyst Weigh In

DSGX has been the topic of several analyst reports. Stephens decreased their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. Scotiabank increased their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. TD Securities raised their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.50.

About The Descartes Systems Group

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.