Mackenzie Financial Corp Boosts Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 130.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,947,789 shares of the technology company's stock after buying an additional 2,800,492 shares during the quarter. Mackenzie Financial Corp owned about 5.78% of The Descartes Systems Group worth $561,827,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Park Avenue Securities LLC grew its holdings in The Descartes Systems Group by 18.0% in the fourth quarter. Park Avenue Securities LLC now owns 4,497 shares of the technology company's stock worth $511,000 after purchasing an additional 686 shares during the period. SG Americas Securities LLC grew its holdings in The Descartes Systems Group by 36.5% in the fourth quarter. SG Americas Securities LLC now owns 12,214 shares of the technology company's stock worth $1,388,000 after purchasing an additional 3,267 shares during the period. DGS Capital Management LLC grew its holdings in The Descartes Systems Group by 27.3% in the fourth quarter. DGS Capital Management LLC now owns 2,511 shares of the technology company's stock worth $285,000 after purchasing an additional 538 shares during the period. Blue Trust Inc. grew its holdings in The Descartes Systems Group by 61.1% in the fourth quarter. Blue Trust Inc. now owns 1,047 shares of the technology company's stock worth $119,000 after purchasing an additional 397 shares during the period. Finally, R Squared Ltd acquired a new stake in The Descartes Systems Group in the fourth quarter worth $90,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Up 1.7%

Shares of The Descartes Systems Group stock traded up $1.98 during trading on Tuesday, reaching $116.93. The company's stock had a trading volume of 259,628 shares, compared to its average volume of 210,007. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 73.54 and a beta of 0.88. The firm's 50-day moving average is $105.47 and its two-hundred day moving average is $110.78.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly 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 business had revenue of $167.50 million during 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, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on DSGX. Barclays reduced their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a 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 on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Finally, Scotiabank upped their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.18.

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.