Lazard Asset Management LLC Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Lazard Asset Management LLC bought a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,866 shares of the technology company's stock, valued at approximately $1,347,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $126,918,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after purchasing an additional 639,848 shares during the period. Franklin Resources Inc. boosted its stake in shares of The Descartes Systems Group by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after purchasing an additional 326,643 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of The Descartes Systems Group by 104.5% during the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company's stock valued at $48,819,000 after purchasing an additional 219,736 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $19,392,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Trading Up 0.7%

DSGX opened at $113.50 on Monday. The stock has a fifty day simple moving average of $103.37 and a two-hundred day simple moving average of $110.59. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 71.38 and a beta of 0.88. The Descartes Systems Group Inc. has a 12-month low of $89.00 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.43. The business had revenue of $167.50 million during 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 predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DSGX shares. BMO Capital Markets dropped their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Scotiabank raised their price target on 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. Finally, Barclays dropped their price target 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. Four investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Profile

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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