Clearbridge Investments LLC Increases Stake in The Descartes Systems Group Inc. $DSGX

Clearbridge Investments LLC grew its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 403,854 shares of the technology company’s stock after acquiring an additional 81,354 shares during the quarter. Clearbridge Investments LLC’s holdings in The Descartes Systems Group were worth $35,402,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. AXA S.A. increased its stake in The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after buying an additional 130 shares during the period. Reynders McVeigh Capital Management LLC increased its stake in The Descartes Systems Group by 0.3% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock worth $5,207,000 after buying an additional 140 shares during the period. Orion Porfolio Solutions LLC increased its stake in The Descartes Systems Group by 4.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after buying an additional 143 shares during the period. PCJ Investment Counsel Ltd. increased its stake in The Descartes Systems Group by 0.3% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 48,080 shares of the technology company’s stock worth $4,529,000 after buying an additional 150 shares during the period. Finally, GAMMA Investing LLC increased its stake in The Descartes Systems Group by 18.7% in the 4th quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock worth $92,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several recent analyst reports. Zacks Research downgraded shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Barclays dropped their target price on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Loop Capital reiterated a “buy” rating and set a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. Canaccord Genuity Group dropped their target price on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Finally, Weiss Ratings cut shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.17.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $74.80 on Wednesday. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $109.00. The firm’s 50-day moving average is $71.71 and its two-hundred day moving average is $76.14. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 37.40 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The company had revenue of $166.96 million for the quarter, compared to analysts’ expectations of $193.57 million. During the same period in the prior year, the business earned $0.41 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.