Fred Alger Management LLC Grows Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Fred Alger Management LLC increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1,670.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,518 shares of the technology company’s stock after buying an additional 70,309 shares during the quarter. Fred Alger Management LLC owned about 0.09% of The Descartes Systems Group worth $8,465,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group during the 4th quarter worth about $43,000. Geode Capital Management LLC increased its stake in shares of The Descartes Systems Group by 23.0% during the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company’s stock worth $67,934,000 after purchasing an additional 110,329 shares in the last quarter. Canoe Financial LP purchased a new position in The Descartes Systems Group in the 4th quarter valued at about $7,939,000. Stephens Investment Management Group LLC lifted its position in shares of The Descartes Systems Group by 9.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 209,176 shares of the technology company’s stock valued at $23,762,000 after acquiring an additional 18,233 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of The Descartes Systems Group by 36.5% in the fourth quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company’s stock worth $1,388,000 after acquiring an additional 3,267 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DSGX. Scotiabank increased their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 26th. BMO Capital Markets cut their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research report on Friday, March 28th. Finally, Stephens dropped their price target on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.50.

The Descartes Systems Group Stock Up 1.2 %

Shares of DSGX stock opened at $108.71 on Friday. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31. The company has a market cap of $9.31 billion, a P/E ratio of 68.37 and a beta of 0.88. The business has a 50 day moving average of $102.23 and a two-hundred day moving average of $110.24.

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 analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million for 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%. Analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

The Descartes Systems Group Company 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.