Massachusetts Financial Services Co. MA Has $63.18 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Massachusetts Financial Services Co. MA increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 626,632 shares of the technology company's stock after acquiring an additional 125,146 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.73% of The Descartes Systems Group worth $63,183,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. GeoWealth Management LLC raised its position in shares of The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after buying an additional 132 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of The Descartes Systems Group by 1.8% in the 4th quarter. Shell Asset Management Co. now owns 9,714 shares of the technology company's stock worth $1,104,000 after purchasing an additional 172 shares during the last quarter. Vista Finance LLC grew its stake in shares of The Descartes Systems Group by 7.0% in the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company's stock worth $314,000 after purchasing an additional 203 shares during the last quarter. Northwest & Ethical Investments L.P. grew its stake in shares of The Descartes Systems Group by 1.0% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock worth $2,677,000 after purchasing an additional 222 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of The Descartes Systems Group by 1.5% in the 4th quarter. Synovus Financial Corp now owns 15,579 shares of the technology company's stock worth $1,770,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

Shares of DSGX traded down $0.90 during mid-day trading on Monday, hitting $104.19. 383,121 shares of the company's stock were exchanged, compared to its average volume of 253,046. The Descartes Systems Group Inc. has a 52 week low of $90.61 and a 52 week high of $124.31. The company has a 50-day simple moving average of $106.07 and a 200 day simple moving average of $107.41. The company has a market cap of $8.94 billion, a PE ratio of 62.77 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company had revenue of $168.74 million for the quarter, compared to the consensus estimate of $169.60 million. During the same period last year, the firm earned $0.40 earnings per share. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of research analyst reports. Barclays lowered 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. Stephens reduced their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Royal Bank Of Canada cut 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 research note on Thursday, June 5th. Scotiabank upped 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 research note on Wednesday, March 26th. Finally, Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price for the company. Four 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.