Louisbourg Investments Inc. Purchases 13,245 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Louisbourg Investments Inc. raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 260.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,335 shares of the technology company's stock after buying an additional 13,245 shares during the period. Louisbourg Investments Inc.'s holdings in The Descartes Systems Group were worth $1,848,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after buying an additional 2,800,492 shares during the period. Vanguard Group Inc. boosted its position in The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock valued at $375,047,000 after buying an additional 54,341 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in The Descartes Systems Group by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after buying an additional 101,290 shares during the period. Franklin Resources Inc. boosted its position in 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 buying an additional 326,643 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in 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 buying an additional 639,848 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DSGX has been the subject of several analyst reports. Scotiabank upped their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research report on Wednesday, March 26th. CIBC cut their price target on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Stephens dropped their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada dropped their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Finally, BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating for the company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.40.

The Descartes Systems Group Price Performance

DSGX stock opened at $97.95 on Tuesday. The Descartes Systems Group Inc. has a 1 year low of $90.61 and a 1 year high of $124.31. The company has a market cap of $8.39 billion, a P/E ratio of 61.60 and a beta of 0.87. The firm has a 50-day moving average of $107.19 and a 200 day moving average of $109.91.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same period in the previous year, the company earned $0.40 earnings per share. The Descartes Systems Group's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.