The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Bought by Pictet Asset Management SA

Pictet Asset Management SA boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX – Get Rating) (TSE:DSG) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,480 shares of the technology company’s stock after buying an additional 580 shares during the quarter. Pictet Asset Management SA’s holdings in The Descartes Systems Group were worth $414,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its holdings in The Descartes Systems Group by 4.6% during the 2nd quarter. Baird Financial Group Inc. now owns 51,541 shares of the technology company’s stock worth $3,199,000 after buying an additional 2,253 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of The Descartes Systems Group by 3.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,608,274 shares of the technology company’s stock valued at $101,986,000 after purchasing an additional 59,789 shares in the last quarter. Maven Securities LTD acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at $235,000. Mackenzie Financial Corp raised its holdings in shares of The Descartes Systems Group by 21.6% in the 2nd quarter. Mackenzie Financial Corp now owns 1,303,432 shares of the technology company’s stock valued at $80,999,000 after purchasing an additional 231,162 shares in the last quarter. Finally, NBW Capital LLC raised its holdings in shares of The Descartes Systems Group by 0.6% in the 3rd quarter. NBW Capital LLC now owns 81,082 shares of the technology company’s stock valued at $5,144,000 after purchasing an additional 450 shares in the last quarter. 80.35% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

DSGX opened at $73.68 on Wednesday. The stock has a market capitalization of $6.25 billion, a PE ratio of 68.86 and a beta of 1.02. The firm’s fifty day moving average price is $72.17 and its 200 day moving average price is $69.64. The Descartes Systems Group Inc. has a 12-month low of $56.19 and a 12-month high of $79.08.

The Descartes Systems Group (NASDAQ:DSGX – Get Rating) (TSE:DSG) last posted its quarterly earnings results on Wednesday, December 7th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $121.47 million for the quarter, compared to analysts’ expectations of $123.10 million. The Descartes Systems Group had a net margin of 19.37% and a return on equity of 8.94%. On average, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DSGX. Barclays reduced their price objective on shares of The Descartes Systems Group from $60.00 to $58.00 and set an “underweight” rating on the stock in a report on Thursday, December 8th. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $74.00 to $71.00 in a research report on Thursday, December 8th. StockNews.com raised shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 19th. Stephens raised their price objective on shares of The Descartes Systems Group from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, December 8th. Finally, Wolfe Research cut shares of The Descartes Systems Group from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.56.

The Descartes Systems Group Company Profile

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The Descartes Systems Group, Inc provides on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. It uses modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community.