The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,914,238 shares of the technology company’s stock after acquiring an additional 154,110 shares during the quarter. Mackenzie Financial Corp owned about 2.25% of The Descartes Systems Group worth $160,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DSGX. Price T Rowe Associates Inc. MD increased its stake in shares of The Descartes Systems Group by 20.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock valued at $762,578,000 after acquiring an additional 1,834,084 shares during the last quarter. Norges Bank acquired a new stake in The Descartes Systems Group during the 4th quarter worth approximately $69,541,000. Durable Capital Partners LP increased its position in The Descartes Systems Group by 60.6% during the 1st quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock worth $189,381,000 after purchasing an additional 975,727 shares in the last quarter. Wasatch Advisors Inc. acquired a new stake in The Descartes Systems Group during the 1st quarter worth approximately $66,482,000. Finally, Goldman Sachs Group Inc. increased its position in The Descartes Systems Group by 547.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,058,300 shares of the technology company’s stock worth $65,677,000 after purchasing an additional 894,814 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

DSGX has been the subject of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Stephens increased their target price on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Barclays increased their target price on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada reissued an “outperform” rating and set a $110.00 target price on shares of The Descartes Systems Group in a research report on Thursday, April 11th. Finally, Raymond James increased their target price on shares of The Descartes Systems Group from $84.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.78.

The Descartes Systems Group Stock Down 1.5 %

Shares of NASDAQ:DSGX opened at $87.35 on Tuesday. The Descartes Systems Group Inc. has a 52-week low of $69.59 and a 52-week high of $94.54. The company has a 50 day moving average of $89.56 and a two-hundred day moving average of $83.44. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 65.19 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. The company had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The business’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.69 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.