M&T Bank Corp Purchases Shares of 13,097 The Descartes Systems Group Inc. (NASDAQ:DSGX)

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

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in The Descartes Systems Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company's stock valued at $12,940,000 after buying an additional 3,316 shares during the period. Cidel Asset Management Inc. lifted its position in The Descartes Systems Group by 0.4% during the first quarter. Cidel Asset Management Inc. now owns 107,911 shares of the technology company's stock valued at $10,862,000 after buying an additional 443 shares during the period. Impact Investors Inc lifted its position in The Descartes Systems Group by 22.9% during the first quarter. Impact Investors Inc now owns 5,280 shares of the technology company's stock valued at $532,000 after buying an additional 984 shares during the period. Bessemer Group Inc. lifted its position in The Descartes Systems Group by 9.8% during the first quarter. Bessemer Group Inc. now owns 235,879 shares of the technology company's stock valued at $23,782,000 after buying an additional 21,143 shares during the period. Finally, Yorktown Management & Research Co Inc lifted its position in The Descartes Systems Group by 31.7% during the first quarter. Yorktown Management & Research Co Inc now owns 10,800 shares of the technology company's stock valued at $1,089,000 after buying an additional 2,600 shares during the period. Institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on DSGX. Barclays lowered their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research report on Thursday, June 5th. Scotiabank lifted their price target 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. Royal Bank Of Canada lowered 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. Morgan Stanley began coverage on The Descartes Systems Group in a research report on Monday. They issued an "equal weight" rating and a $110.00 price target for the company. Finally, Stephens lowered their price target on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. 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 stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and an average target price of $122.18.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded up $1.52 during trading hours on Thursday, hitting $105.34. The company's stock had a trading volume of 478,066 shares, compared to its average volume of 251,598. The Descartes Systems Group Inc. has a 12 month low of $90.61 and a 12 month high of $124.31. The company's 50 day simple moving average is $106.11 and its two-hundred day simple moving average is $107.56. The company has a market cap of $9.04 billion, a P/E ratio of 63.46 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 the consensus estimate 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 business had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The Descartes Systems Group's quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.