Pictet Asset Management Holding SA Grows Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Pictet Asset Management Holding SA increased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,316 shares of the technology company’s stock after purchasing an additional 908 shares during the quarter. Pictet Asset Management Holding SA’s holdings in The Descartes Systems Group were worth $3,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DSGX. Mather Group LLC. raised its holdings in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of The Descartes Systems Group in the 4th quarter valued at $43,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group during the 4th quarter worth $54,000. GAMMA Investing LLC lifted its position in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after acquiring an additional 495 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in The Descartes Systems Group in the fourth quarter valued at $57,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Down 4.8 %

Shares of DSGX opened at $95.84 on Friday. The stock’s 50 day moving average is $108.55 and its two-hundred day moving average is $110.33. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The firm has a market capitalization of $8.20 billion, a PE ratio of 60.28 and a beta of 0.99.

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 for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DSGX. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays reduced their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. BMO Capital Markets lowered their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. Finally, Scotiabank increased 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 note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.50.

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.