Massachusetts Financial Services Co. MA Boosts Stock Holdings 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GeoWealth Management LLC grew its position in The Descartes Systems Group by 63.2% in the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Shell Asset Management Co. increased 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 valued at $1,104,000 after acquiring an additional 172 shares in the last quarter. Vista Finance LLC boosted its holdings in The Descartes Systems Group by 7.0% during the 1st quarter. Vista Finance LLC now owns 3,119 shares of the technology company's stock worth $314,000 after acquiring an additional 203 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of The Descartes Systems Group by 1.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company's stock valued at $2,677,000 after buying an additional 222 shares during the period. Finally, Synovus Financial Corp boosted its stake in The Descartes Systems Group by 1.5% in the fourth quarter. Synovus Financial Corp now owns 15,579 shares of the technology company's stock worth $1,770,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DSGX. Royal Bank Of Canada lowered their price objective on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Scotiabank lifted their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 26th. Stephens dropped their price objective on 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. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday. They issued an "equal weight" rating and a $110.00 target price for the company. Finally, Barclays lowered their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Trading Up 1.5%

Shares of The Descartes Systems Group stock opened at $105.34 on Friday. The company has a market cap of $9.04 billion, a P/E ratio of 63.46 and a beta of 0.82. The company's fifty day simple moving average is $106.11 and its two-hundred day simple moving average is $107.56. The Descartes Systems Group Inc. has a 12-month low of $90.61 and a 12-month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued 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 10.53% and a net margin of 21.67%. The company had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. Analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

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.

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.