Franklin Resources Inc. grew its holdings in Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 0.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,582,798 shares of the technology company’s stock after purchasing an additional 4,148 shares during the period. Franklin Resources Inc. owned about 2.06% of Descartes Systems Group worth $53,648,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. raised its holdings in shares of Descartes Systems Group by 13.5% in the second quarter. Centaurus Financial Inc. now owns 138,640 shares of the technology company’s stock valued at $4,506,000 after purchasing an additional 16,468 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Descartes Systems Group by 3.7% in the second quarter. American Century Companies Inc. now owns 257,717 shares of the technology company’s stock valued at $8,396,000 after purchasing an additional 9,103 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Descartes Systems Group by 9.8% in the second quarter. Macquarie Group Ltd. now owns 213,197 shares of the technology company’s stock valued at $6,942,000 after purchasing an additional 19,000 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Descartes Systems Group by 18.1% in the second quarter. Bank of Nova Scotia now owns 305,750 shares of the technology company’s stock valued at $9,926,000 after purchasing an additional 46,826 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of Descartes Systems Group by 116.1% in the third quarter. CIBC World Markets Inc. now owns 63,272 shares of the technology company’s stock valued at $2,145,000 after purchasing an additional 33,995 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.
A number of equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Descartes Systems Group from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, BMO Capital Markets set a $32.00 target price on shares of Descartes Systems Group and gave the stock a “market perform” rating in a report on Thursday, November 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $34.20.
Shares of DSGX opened at $27.64 on Friday. The firm has a market cap of $2.13 billion, a P/E ratio of 78.97 and a beta of 0.45. Descartes Systems Group Inc has a 1-year low of $24.85 and a 1-year high of $35.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 1.11.
Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, November 28th. The technology company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). The firm had revenue of $70.00 million for the quarter, compared to analyst estimates of $69.69 million. Descartes Systems Group had a return on equity of 5.88% and a net margin of 11.24%. Descartes Systems Group’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. On average, analysts predict that Descartes Systems Group Inc will post 0.42 earnings per share for the current year.
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Descartes Systems Group Profile
The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.
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