The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake 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 and Exchange Commission (SEC). 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 5.78% of The Descartes Systems Group worth $561,827,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Mather Group LLC. lifted its position in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after purchasing an additional 132 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $43,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $57,000. Finally, Optiver Holding B.V. acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth about $66,000. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports 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 on the stock in a research report on Thursday, March 6th. Wall Street Zen cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. BMO Capital Markets reduced their target price on shares of 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $130.00 target price on shares of The Descartes Systems Group in a report on Friday, March 28th. Finally, Scotiabank raised their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Stock Performance

DSGX stock traded down $0.23 during midday trading on Thursday, reaching $114.17. 107,509 shares of the company were exchanged, compared to its average volume of 209,735. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 71.86 and a beta of 0.88. The stock's 50-day simple moving average is $105.74 and its 200 day simple moving average is $110.81. The Descartes Systems Group Inc. has a 1-year low of $89.00 and a 1-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 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The business had revenue of $167.50 million for 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, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Company 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.