Price T Rowe Associates Inc. MD Raises Stake in The Descartes Systems Group Inc. $DSGX

Key Points

• Price T Rowe Associates Inc. MD increased its stake in The Descartes Systems Group by 15.1%, acquiring an additional 936,718 shares, which raises its ownership to approximately 8.33% of the company.
• The Descartes Systems Group's stock has a market cap of $8.71 billion with a price-to-earnings ratio of 61.07, and currently trades between a 52-week low of $92.00 and a high of $124.31.
• Analysts have mixed opinions on the stock, with price targets ranging from $108.00 to $130.00, while the consensus rating is a "Moderate Buy."

Price T Rowe Associates Inc. MD grew its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,134,467 shares of the technology company's stock after purchasing an additional 936,718 shares during the period. Price T Rowe Associates Inc. MD owned about 8.33% of The Descartes Systems Group worth $719,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. NBC Securities Inc. bought a new position in The Descartes Systems Group in the 1st quarter valued at approximately $25,000. GeoWealth Management LLC increased its holdings 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 buying an additional 132 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of The Descartes Systems Group in the 1st quarter valued at $49,000. Optiver Holding B.V. acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at $66,000. Finally, Johnson Financial Group Inc. grew its position in The Descartes Systems Group by 830.9% during the 4th quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock worth $101,000 after acquiring an additional 781 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on DSGX shares. Wall Street Zen downgraded The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada reduced their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Morgan Stanley began 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 price target for the company. Finally, Barclays decreased 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 report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Stock Performance

DSGX traded up $0.10 during mid-day trading on Thursday, reaching $99.80. 116,295 shares of the stock were exchanged, compared to its average volume of 350,137. The Descartes Systems Group Inc. has a 1 year low of $92.00 and a 1 year high of $124.31. The stock has a market capitalization of $8.57 billion, a PE ratio of 60.12 and a beta of 0.81. The company has a 50 day moving average price of $102.35 and a two-hundred day moving average price of $104.93.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data 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 firm had revenue of $168.74 million during the quarter, compared to the consensus estimate of $169.60 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company's revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect 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.