Massachusetts Financial Services Co. MA lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 501,486 shares of the technology company's stock after buying an additional 30,855 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.59% of The Descartes Systems Group worth $56,969,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in The Descartes Systems Group by 23.0% during the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock worth $67,934,000 after acquiring an additional 110,329 shares during the period. National Bank of Canada FI lifted its stake in The Descartes Systems Group by 4.5% in the 4th quarter. National Bank of Canada FI now owns 730,778 shares of the technology company's stock worth $83,155,000 after purchasing an additional 31,621 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after purchasing an additional 326,643 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of The Descartes Systems Group by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company's stock valued at $904,000 after purchasing an additional 438 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in The Descartes Systems Group by 27.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,232 shares of the technology company's stock worth $2,298,000 after buying an additional 4,383 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.
The Descartes Systems Group Trading Down 3.2 %
Shares of The Descartes Systems Group stock traded down $3.29 during trading on Thursday, reaching $99.48. The company's stock had a trading volume of 91,757 shares, compared to its average volume of 205,879. The company has a 50-day moving average price of $106.68 and a two-hundred day moving average price of $110.20. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The firm has a market cap of $8.52 billion, a PE ratio of 62.68 and a beta of 0.97.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. On average, analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on DSGX shares. Stephens lowered their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday. BMO Capital Markets decreased 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 report on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Scotiabank boosted their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. Five 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.
Check Out Our Latest Stock Analysis on DSGX
The Descartes Systems Group Profile
(
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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