Price T Rowe Associates Inc. MD Buys 936,718 Shares of 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 position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.1% during the first quarter, according to its most recent disclosure 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 quarter. Price T Rowe Associates Inc. MD owned approximately 8.33% of The Descartes Systems Group worth $719,370,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in The Descartes Systems Group in the first quarter worth 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 valued at $39,000 after acquiring an additional 132 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of The Descartes Systems Group during the first quarter valued at approximately $49,000. Optiver Holding B.V. bought a new stake in shares of The Descartes Systems Group during the fourth quarter valued at approximately $66,000. Finally, Johnson Financial Group Inc. increased its holdings in shares of The Descartes Systems Group by 830.9% during the fourth quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after acquiring an additional 781 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Trading Down 2.1%

Shares of DSGX stock traded down $2.08 during trading hours on Monday, reaching $99.29. The company's stock had a trading volume of 279,288 shares, compared to its average volume of 445,788. The stock has a market capitalization of $8.53 billion, a P/E ratio of 59.81 and a beta of 0.81. The Descartes Systems Group Inc. has a one year low of $92.00 and a one year high of $124.31. The firm's fifty day simple moving average is $102.35 and its 200 day simple moving average is $105.02.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced 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 net margin of 21.67% and a return on equity of 10.53%. The company had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on DSGX. Royal Bank Of Canada cut their target price 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. Morgan Stanley initiated coverage on The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective on the stock. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Barclays cut their price objective 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. One 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. Based on data from MarketBeat.com, The Descartes Systems Group presently has an average rating of "Moderate Buy" and a consensus target price 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.