Raymond James Financial Inc. Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Raymond James Financial Inc. acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 170,710 shares of the technology company's stock, valued at approximately $19,392,000. Raymond James Financial Inc. owned 0.20% of The Descartes Systems Group at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of The Descartes Systems Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock worth $375,047,000 after acquiring an additional 54,341 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of The Descartes Systems Group by 23.9% in the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after purchasing an additional 326,643 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock worth $136,175,000 after buying an additional 639,848 shares during the period. Norges Bank bought a new stake in shares of The Descartes Systems Group in the 4th quarter worth approximately $126,918,000. Finally, TD Asset Management Inc. lifted its stake in The Descartes Systems Group by 3.2% in the fourth quarter. TD Asset Management Inc. now owns 899,762 shares of the technology company's stock worth $102,224,000 after acquiring an additional 28,204 shares during the period. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on DSGX. BMO Capital Markets cut their target price on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Stephens decreased their target price on 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. Barclays decreased their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Finally, StockNews.com downgraded shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.50.

The Descartes Systems Group Trading Down 0.4 %

Shares of NASDAQ DSGX traded down $0.42 during midday trading on Friday, reaching $105.28. The company had a trading volume of 32,436 shares, compared to its average volume of 294,838. The stock has a market cap of $9.01 billion, a P/E ratio of 66.27 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The business's 50-day simple moving average is $103.32 and its 200 day simple moving average is $110.16.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $169.97 million. Analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current 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.