Deutsche Bank AG Trims Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Deutsche Bank AG cut its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,791 shares of the technology company’s stock after selling 2,013 shares during the period. Deutsche Bank AG owned 0.15% of The Descartes Systems Group worth $14,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DSGX. Norges Bank acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth $126,918,000. Arrowstreet Capital Limited Partnership lifted its position in The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after purchasing an additional 639,848 shares during the period. Franklin Resources Inc. lifted its position in The Descartes Systems Group by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after purchasing an additional 326,643 shares during the period. Vontobel Holding Ltd. raised its position in shares of The Descartes Systems Group by 104.5% in the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after acquiring an additional 219,736 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of The Descartes Systems Group in the fourth quarter worth about $19,392,000. 77.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DSGX has been the subject of several research analyst reports. Scotiabank upped their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 26th. BMO Capital Markets lowered their price objective on shares of 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. CIBC lowered their price objective on shares of 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. Stephens reduced their target price on shares of 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. Four 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group Trading Up 0.2%

NASDAQ:DSGX opened at $112.76 on Friday. The company has a 50-day moving average of $103.06 and a 200-day moving average of $110.47. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 70.92 and a beta of 0.88. The Descartes Systems Group Inc. has a twelve month low of $89.00 and a twelve month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $167.50 million during 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%. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.