146,780 Shares in The Descartes Systems Group Inc. $DSGX Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a stake of 146,780 shares in The Descartes Systems Group, valued at approximately $14.8 million, representing 0.17% ownership at the end of the first quarter.
• Several hedge funds, including Mackenzie Financial Corp and Granahan Investment Management LLC, significantly increased their holdings in The Descartes Systems Group during recent quarters.
• The stock price of The Descartes Systems Group has recently decreased by 2.5%, and analysts maintain a consensus rating of "Moderate Buy" with an average target price of $123.60.

Strs Ohio acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 146,780 shares of the technology company's stock, valued at approximately $14,793,000. Strs Ohio owned 0.17% of The Descartes Systems Group at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp grew its position in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after buying an additional 2,800,492 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of The Descartes Systems Group by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after buying an additional 936,718 shares during the period. Granahan Investment Management LLC grew its position in shares of The Descartes Systems Group by 715.5% in the 1st quarter. Granahan Investment Management LLC now owns 378,982 shares of the technology company's stock worth $38,213,000 after buying an additional 332,508 shares during the period. Nuveen LLC purchased a new stake in shares of The Descartes Systems Group in the 1st quarter worth about $21,074,000. Finally, Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 8.0% in the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after buying an additional 202,973 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several recent analyst reports. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective on the stock. Barclays cut their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada lowered their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $123.60.

The Descartes Systems Group Stock Down 2.5%

Shares of NASDAQ:DSGX opened at $104.30 on Friday. The firm's 50 day moving average price is $102.85 and its 200-day moving average price is $103.92. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31. The stock has a market capitalization of $8.96 billion, a PE ratio of 61.72 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The Descartes Systems Group's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. 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

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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