The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,019 shares of the technology company’s stock after purchasing an additional 813 shares during the period. Legato Capital Management LLC’s holdings in The Descartes Systems Group were worth $1,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC raised its position in shares of The Descartes Systems Group by 20.4% in the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock valued at $1,368,000 after buying an additional 2,250 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in The Descartes Systems Group during the 3rd quarter valued at about $2,308,000. Massachusetts Financial Services Co. MA raised its holdings in The Descartes Systems Group by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after acquiring an additional 9,768 shares during the last quarter. Barclays PLC lifted its stake in The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after purchasing an additional 270 shares in the last quarter. Finally, Canoe Financial LP acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth approximately $7,939,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 3.9 %

DSGX opened at $114.05 on Thursday. The Descartes Systems Group Inc. has a 52 week low of $84.12 and a 52 week high of $124.31. The business has a fifty day simple moving average of $116.40 and a 200-day simple moving average of $108.57. The firm has a market cap of $9.76 billion, a P/E ratio of 71.73 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the previous year, the firm earned $0.31 EPS. Sell-side analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DSGX. Royal Bank of Canada boosted their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. TD Securities upped their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets increased their price objective on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong 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 $117.92.

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.