Swiss National Bank Increases Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Swiss National Bank lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 258,324 shares of the technology company’s stock after buying an additional 2,700 shares during the quarter. Swiss National Bank’s holdings in The Descartes Systems Group were worth $26,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in The Descartes Systems Group by 1.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 245,099 shares of the technology company’s stock valued at $25,235,000 after buying an additional 3,312 shares during the period. Empowered Funds LLC boosted its holdings in shares of The Descartes Systems Group by 25.0% in the third quarter. Empowered Funds LLC now owns 18,872 shares of the technology company’s stock valued at $1,943,000 after acquiring an additional 3,780 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of The Descartes Systems Group during the third quarter worth about $2,308,000. Geneva Capital Management LLC raised its holdings in The Descartes Systems Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after purchasing an additional 19,002 shares in the last quarter. Finally, Cumberland Partners Ltd lifted its position in The Descartes Systems Group by 3.7% in the third quarter. Cumberland Partners Ltd now owns 85,903 shares of the technology company’s stock valued at $8,849,000 after purchasing an additional 3,065 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Canaccord Genuity Group set a $108.00 target price on The Descartes Systems Group and gave the stock a “buy” rating in a research report on Thursday, September 5th. National Bankshares set a $125.00 price objective on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. BMO Capital Markets increased their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research report on Thursday, September 5th. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $88.00 to $125.00 in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $114.48 on Friday. The Descartes Systems Group Inc. has a 1-year low of $79.21 and a 1-year high of $117.24. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 77.35 and a beta of 0.97. The firm has a 50 day simple moving average of $105.92 and a 200-day simple moving average of $100.46.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same period in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.69 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.