Quadrature Capital Ltd Grows Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Quadrature Capital Ltd raised its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 156,000 shares of the technology company’s stock after buying an additional 18,700 shares during the quarter. Quadrature Capital Ltd’s holdings in The Descartes Systems Group were worth $13,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new position in The Descartes Systems Group in the 4th quarter worth approximately $27,000. Operose Advisors LLC purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at approximately $35,000. Federated Hermes Inc. purchased a new position in The Descartes Systems Group in the 3rd quarter valued at $64,000. Signaturefd LLC lifted its holdings in The Descartes Systems Group by 45.6% in the 4th quarter. Signaturefd LLC now owns 1,015 shares of the technology company’s stock valued at $85,000 after purchasing an additional 318 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in The Descartes Systems Group in the 4th quarter valued at $209,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock traded down $1.74 on Friday, reaching $91.19. 67,426 shares of the company were exchanged, compared to its average volume of 168,516. The stock’s 50 day moving average price is $94.00 and its 200-day moving average price is $89.01. The company has a market cap of $7.78 billion, a P/E ratio of 65.14 and a beta of 0.93. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $100.69.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, May 29th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The business had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $151.80 million. The Descartes Systems Group had a return on equity of 9.96% and a net margin of 20.62%. The Descartes Systems Group’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DSGX has been the topic of a number of research reports. Scotiabank raised their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. TD Securities raised their price objective on The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Stephens lifted their target price on The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. CIBC lifted their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Finally, BMO Capital Markets lifted their target price on The Descartes Systems Group from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.00.

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.