UBS Group AG Buys 144,233 Shares of The Descartes Systems Group Inc. $DSGX

UBS Group AG lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 177.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 225,603 shares of the technology company’s stock after buying an additional 144,233 shares during the period. UBS Group AG’s holdings in The Descartes Systems Group were worth $19,776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in The Descartes Systems Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,602,652 shares of the technology company’s stock valued at $316,050,000 after acquiring an additional 69,260 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after purchasing an additional 276,329 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of The Descartes Systems Group by 0.3% in the third quarter. Bank of Montreal Can now owns 1,683,790 shares of the technology company’s stock valued at $158,507,000 after purchasing an additional 5,317 shares during the last quarter. Temasek Holdings Private Ltd lifted its position in shares of The Descartes Systems Group by 63.3% during the third quarter. Temasek Holdings Private Ltd now owns 1,464,165 shares of the technology company’s stock valued at $137,968,000 after purchasing an additional 567,386 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of The Descartes Systems Group by 54.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock valued at $94,355,000 after purchasing an additional 351,700 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $68.88 on Tuesday. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 37.03 and a beta of 0.65. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35. The firm’s 50-day simple moving average is $71.09 and its two-hundred day simple moving average is $78.36.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The Descartes Systems Group had a net margin of 22.47% and a return on equity of 10.70%. The firm had revenue of $192.37 million during the quarter, compared to the consensus estimate of $188.09 million. During the same period in the prior year, the firm earned $0.43 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. Analysts forecast that The Descartes Systems Group Inc. will post 2.62 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DSGX shares. Scotiabank reduced their price objective on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Canaccord Genuity Group cut their target price on The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Barclays reduced their target price on The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Weiss Ratings downgraded The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Finally, Morgan Stanley dropped their price target on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of “Moderate Buy” and an average price target of $105.45.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.