Price T Rowe Associates Inc. MD lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,197,749 shares of the technology company's stock after selling 1,366,282 shares during the period. Price T Rowe Associates Inc. MD owned about 7.24% of The Descartes Systems Group worth $704,065,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group in the fourth quarter valued at $43,000. Jane Street Group LLC boosted its stake in shares of The Descartes Systems Group by 20.4% during the 3rd quarter. Jane Street Group LLC now owns 13,290 shares of the technology company's stock worth $1,368,000 after acquiring an additional 2,250 shares in the last quarter. Barclays PLC grew its holdings in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company's stock worth $1,031,000 after acquiring an additional 270 shares during the period. Geode Capital Management LLC increased its stake in The Descartes Systems Group by 23.0% in the 4th quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after purchasing an additional 110,329 shares in the last quarter. Finally, Canoe Financial LP purchased a new position in The Descartes Systems Group in the 4th quarter valued at approximately $7,939,000. Hedge funds and other institutional investors own 77.73% of the company's stock.
The Descartes Systems Group Trading Down 1.1 %
DSGX traded down $1.19 during midday trading on Wednesday, hitting $104.76. The company's stock had a trading volume of 63,761 shares, compared to its average volume of 202,874. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The firm has a 50-day moving average price of $102.80 and a two-hundred day moving average price of $110.24. The firm has a market cap of $8.97 billion, a P/E ratio of 65.87 and a beta of 0.97.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on DSGX. CIBC lowered their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Barclays lowered their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Stephens cut their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research note on Friday, March 28th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $119.50.
Read Our Latest Research Report on The Descartes Systems Group
The Descartes Systems Group Company Profile
(
Free Report)
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.
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