Mackenzie Financial Corp Buys 154,110 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Mackenzie Financial Corp lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,914,238 shares of the technology company’s stock after acquiring an additional 154,110 shares during the period. Mackenzie Financial Corp’s holdings in The Descartes Systems Group were worth $160,912,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of The Descartes Systems Group by 20.1% in 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 in the last quarter. Vanguard Group Inc. increased its position in The Descartes Systems Group by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,065,662 shares of the technology company’s stock worth $224,958,000 after buying an additional 49,402 shares during the period. Conestoga Capital Advisors LLC increased its position in The Descartes Systems Group by 0.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,020,914 shares of the technology company’s stock worth $221,675,000 after buying an additional 20,875 shares during the period. Durable Capital Partners LP increased its position in The Descartes Systems Group by 60.6% in the 1st quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock worth $189,381,000 after buying an additional 975,727 shares during the period. Finally, Fiera Capital Corp increased its position in The Descartes Systems Group by 5.6% in the 3rd quarter. Fiera Capital Corp now owns 2,215,851 shares of the technology company’s stock worth $163,085,000 after buying an additional 117,611 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Trading Down 1.5 %

Shares of NASDAQ:DSGX opened at $87.35 on Tuesday. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $94.54. The firm has a market capitalization of $7.43 billion, a PE ratio of 65.19 and a beta of 0.94. The business’s 50 day moving average is $89.56 and its 200-day moving average is $83.44.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.07. The company had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The Descartes Systems Group’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. On average, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. William Blair reaffirmed an “outperform” rating on shares of The Descartes Systems Group in a research report on Monday, April 1st. Raymond James lifted their price target on 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. CIBC lifted their price target on The Descartes Systems Group from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. BMO Capital Markets lifted their price target on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Finally, Barclays lifted their price target on 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.78.

The Descartes Systems Group Company 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.