M&T Bank Corp Takes Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

M&T Bank Corp bought a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 13,097 shares of the technology company's stock, valued at approximately $1,321,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DSGX. Mackenzie Financial Corp increased its stake in shares of The Descartes Systems Group by 130.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after purchasing an additional 2,800,492 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of The Descartes Systems Group by 6.1% during the 4th 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 purchasing an additional 101,290 shares in the last quarter. Franklin Resources Inc. increased its stake 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 acquiring an additional 326,643 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after acquiring an additional 639,848 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 equities analysts have weighed in on DSGX shares. 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 research report on Thursday, June 5th. Royal Bank Of Canada reduced their price target on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. Stephens decreased 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. Scotiabank increased their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. Finally, Morgan Stanley started coverage on shares of The Descartes Systems Group in a research report on Monday. They set an "equal weight" rating and a $110.00 price objective for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.18.

The Descartes Systems Group Trading Up 1.5%

Shares of DSGX stock traded up $1.54 during mid-day trading on Monday, reaching $102.61. The stock had a trading volume of 308,113 shares, compared to its average volume of 329,040. The firm has a market capitalization of $8.80 billion, a PE ratio of 61.81 and a beta of 0.82. The Descartes Systems Group Inc. has a 52-week low of $90.61 and a 52-week high of $124.31. The stock's 50-day moving average price is $106.46 and its two-hundred day moving average price is $107.76.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $168.74 million during the quarter, compared to analysts' expectations of $169.60 million. The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%. The company's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. On average, equities research analysts forecast 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.