T. Rowe Price Investment Management Inc. Acquires 181,086 Shares of The Descartes Systems Group Inc. $DSGX

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in The Descartes Systems Group by 10.2%, acquiring 181,086 shares in the first quarter.
• Institutional investors now own 77.73% of The Descartes Systems Group, indicating strong confidence in the company.
• Despite missing earnings estimates in its latest quarterly report, The Descartes Systems Group saw an 11.5% revenue growth year-over-year.

T. Rowe Price Investment Management Inc. boosted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,947,947 shares of the technology company's stock after purchasing an additional 181,086 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.28% of The Descartes Systems Group worth $196,412,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. NBC Securities Inc. purchased a new position in The Descartes Systems Group during the 1st quarter valued at about $25,000. GeoWealth Management LLC raised its position in shares of The Descartes Systems Group by 63.2% in 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 stake in The Descartes Systems Group during the first quarter valued at $49,000. Optiver Holding B.V. bought a new stake in The Descartes Systems Group during the fourth quarter valued at $66,000. Finally, Johnson Financial Group Inc. grew its position in 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 worth $101,000 after buying an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Wall Street Analyst Weigh In

DSGX has been the topic of several recent analyst reports. Wall Street Zen cut The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Morgan Stanley started coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price on the stock. Royal Bank Of Canada dropped their target price on shares of 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. Finally, Barclays decreased their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

DSGX traded down $0.22 on Tuesday, hitting $99.07. 126,595 shares of the company were exchanged, compared to its average volume of 345,006. The firm has a fifty day simple moving average of $102.35 and a two-hundred day simple moving average of $105.02. The stock has a market capitalization of $8.51 billion, a PE ratio of 59.68 and a beta of 0.81. The Descartes Systems Group Inc. has a 12 month low of $92.00 and a 12 month high of $124.31.

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 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $168.74 million for the quarter, compared to the consensus estimate of $169.60 million. During the same period last year, the company posted $0.40 earnings per share. The business's revenue was up 11.5% on a year-over-year basis. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.