T. Rowe Price Investment Management Inc. Purchases 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. grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 10.2% during the 1st quarter, according to its most recent 13F filing 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 quarter. T. Rowe Price Investment Management Inc. owned approximately 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 modified their holdings of DSGX. NBC Securities Inc. bought a new position in shares of The Descartes Systems Group during the 1st quarter valued at about $25,000. GeoWealth Management LLC boosted its holdings in The Descartes Systems Group by 63.2% during the 4th quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after acquiring an additional 132 shares during the period. Cullen Frost Bankers Inc. bought a new position in The Descartes Systems Group during the 1st quarter worth approximately $49,000. Optiver Holding B.V. bought a new position in The Descartes Systems Group during the 4th quarter worth approximately $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 currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on DSGX. Royal Bank Of Canada reduced their price target 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 began coverage on The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price target on the stock. Barclays reduced their price target 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. Finally, Wall Street Zen lowered The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Trading Down 1.9%

NASDAQ DSGX traded down $1.8940 on Monday, hitting $99.4760. The company's stock had a trading volume of 160,544 shares, compared to its average volume of 345,723. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The company's 50-day simple moving average is $102.32 and its 200 day simple moving average is $105.16. The firm has a market cap of $8.54 billion, a P/E ratio of 59.96 and a beta of 0.81.

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 earnings per share 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 analysts' expectations of $169.60 million. During the same quarter last year, the business posted $0.40 EPS. The company's quarterly revenue was up 11.5% compared to the same quarter last year. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS 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.