Westfield Capital Management Co. LP Acquires 56,983 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Key Points

• Westfield Capital Management Co. LP increased its stake in The Descartes Systems Group by 9.6% in Q1 2023, now holding 652,431 shares valued at approximately $65.8 million.
• The Descartes Systems Group reported earnings of $0.41 EPS for the last quarter, falling short of analysts' expectations, with revenue of $168.74 million.
• Analysts have mixed ratings for the stock, with an average target price of $122.18, reflecting a consensus of "Moderate Buy".

Westfield Capital Management Co. LP raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 9.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 652,431 shares of the technology company's stock after acquiring an additional 56,983 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.76% of The Descartes Systems Group worth $65,785,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Mackenzie Financial Corp raised its stake in The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after acquiring an additional 2,800,492 shares during the period. Fiera Capital Corp raised its stake in The Descartes Systems Group by 8.0% in the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock valued at $276,705,000 after acquiring an additional 202,973 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in The Descartes Systems Group by 6.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after acquiring an additional 101,290 shares during the period. Geneva Capital Management LLC raised its stake in The Descartes Systems Group by 0.6% in the 1st quarter. Geneva Capital Management LLC now owns 1,467,921 shares of the technology company's stock valued at $148,011,000 after acquiring an additional 8,793 shares during the period. Finally, TD Asset Management Inc grew its holdings in The Descartes Systems Group by 1.6% in the 1st quarter. TD Asset Management Inc now owns 913,866 shares of the technology company's stock valued at $92,014,000 after buying an additional 14,104 shares in the last quarter. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock traded down $0.79 during trading on Friday, reaching $101.67. 122,476 shares of the company's stock were exchanged, compared to its average volume of 333,513. The Descartes Systems Group Inc. has a 1-year low of $92.00 and a 1-year high of $124.31. The company has a market cap of $8.73 billion, a P/E ratio of 61.25 and a beta of 0.81. The firm's 50-day moving average price is $103.75 and its 200 day moving average price is $106.73.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays decreased 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 report on Thursday, June 5th. Royal Bank Of Canada decreased their price objective on 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 assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective on the stock. Finally, Wall Street Zen lowered The Descartes Systems Group from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, The Descartes Systems Group has an average rating of "Moderate Buy" and an average 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.