Raymond James Financial Inc. acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 170,710 shares of the technology company's stock, valued at approximately $19,392,000. Raymond James Financial Inc. owned approximately 0.20% of The Descartes Systems Group as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of DSGX. National Bank of Canada FI lifted its holdings in The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company's stock worth $71,911,000 after buying an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in The Descartes Systems Group by 104.5% during the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company's stock worth $48,819,000 after buying an additional 219,736 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in The Descartes Systems Group by 18.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company's stock worth $75,498,000 after buying an additional 102,208 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in The Descartes Systems Group by 12.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company's stock worth $69,282,000 after buying an additional 72,501 shares during the last quarter. Finally, Canoe Financial LP bought a new position in The Descartes Systems Group during the 4th quarter worth approximately $7,939,000. Institutional investors and hedge funds own 77.73% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on the company. Stephens reduced 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. StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. BMO Capital Markets cut their price target on 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. CIBC cut their price target on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Finally, Loop Capital assumed coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has an average rating of "Moderate Buy" and a consensus target price of $120.33.
Read Our Latest Stock Analysis on The Descartes Systems Group
The Descartes Systems Group Stock Down 0.0 %
The Descartes Systems Group stock traded down $0.04 during mid-day trading on Thursday, hitting $100.03. 231,506 shares of the company's stock traded hands, compared to its average volume of 189,403. The firm has a 50 day moving average price of $112.20 and a 200 day moving average price of $110.17. The company has a market cap of $8.56 billion, a PE ratio of 62.91 and a beta of 0.99. The Descartes Systems Group Inc. has a one year low of $87.20 and a one 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 earnings per share for the quarter, meeting the consensus estimate 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, analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.
About The Descartes Systems Group
(
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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