Raymond James Financial Inc. Has $14.52 Million Stock Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• Raymond James Financial Inc. has reduced its stake in The Descartes Systems Group Inc. by 15.7%, now holding approximately 143,960 shares valued at $14.5 million.
• Other institutional investors have increased their holdings, with GAMMA Investing LLC boosting its stake by an extraordinary 9,983% in the first quarter.
• Equity analysts have mixed ratings for Descartes, with reports indicating a current average price target of $122.18 and a recent downgrade from Wall Street Zen to a "sell" rating.

Raymond James Financial Inc. cut its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 15.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,960 shares of the technology company's stock after selling 26,750 shares during the quarter. Raymond James Financial Inc. owned 0.17% of The Descartes Systems Group worth $14,516,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DSGX. Wells Fargo & Company MN lifted its stake in The Descartes Systems Group by 42.9% during the fourth quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company's stock valued at $748,000 after buying an additional 1,977 shares in the last quarter. First Trust Advisors LP lifted its stake in The Descartes Systems Group by 24.4% during the fourth quarter. First Trust Advisors LP now owns 14,389 shares of the technology company's stock valued at $1,635,000 after buying an additional 2,820 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in The Descartes Systems Group by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 111,643 shares of the technology company's stock valued at $12,683,000 after buying an additional 2,839 shares in the last quarter. Voya Investment Management LLC purchased a new stake in The Descartes Systems Group during the fourth quarter valued at about $1,928,000. Finally, Aquatic Capital Management LLC purchased a new stake in The Descartes Systems Group during the fourth quarter valued at about $932,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

NASDAQ:DSGX traded up $1.11 during mid-day trading on Wednesday, reaching $99.51. The stock had a trading volume of 650,170 shares, compared to its average volume of 471,944. The business's 50 day moving average is $102.25 and its 200 day moving average is $104.31. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The stock has a market cap of $8.55 billion, a P/E ratio of 59.95 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.During the same period last year, the company posted $0.40 earnings per share. The Descartes Systems Group's quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on DSGX shares. Royal Bank Of Canada reduced their price objective on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Barclays reduced their price target on shares of 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. Wall Street Zen lowered shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $122.18.

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.