Franklin Resources Inc. boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 23.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,694,589 shares of the technology company's stock after purchasing an additional 326,643 shares during the quarter. Franklin Resources Inc. owned about 1.98% of The Descartes Systems Group worth $192,502,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $43,000. Jane Street Group LLC increased its position in The Descartes Systems Group by 20.4% in the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company's stock valued at $1,368,000 after acquiring an additional 2,250 shares during the period. Barclays PLC raised its stake in The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company's stock valued at $1,031,000 after acquiring an additional 270 shares in the last quarter. Canoe Financial LP acquired a new position in The Descartes Systems Group during the 4th quarter worth $7,939,000. Finally, Geode Capital Management LLC grew its stake in shares of The Descartes Systems Group by 10.7% in the third quarter. Geode Capital Management LLC now owns 479,681 shares of the technology company's stock worth $50,277,000 after purchasing an additional 46,523 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.
The Descartes Systems Group Stock Performance
Shares of NASDAQ:DSGX traded down $4.83 during midday trading on Friday, reaching $95.84. The company had a trading volume of 792,483 shares, compared to its average volume of 203,091. The company has a fifty day simple moving average of $108.55 and a two-hundred day simple moving average of $110.33. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 60.28 and a beta of 0.99. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. Analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets cut their price objective 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 note on Thursday, March 6th. Barclays dropped their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. CIBC decreased their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Stephens dropped their target price on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.50.
Check Out Our Latest Research Report on DSGX
The Descartes Systems Group Profile
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Free Report)
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.
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