Clearbridge Investments LLC Buys 81,354 Shares of The Descartes Systems Group Inc. $DSGX

Clearbridge Investments LLC increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 25.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 403,854 shares of the technology company’s stock after acquiring an additional 81,354 shares during the quarter. Clearbridge Investments LLC owned about 0.47% of The Descartes Systems Group worth $35,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Prudential PLC bought a new position in shares of The Descartes Systems Group during the fourth quarter worth $422,000. Westfield Capital Management Co. LP boosted its position in shares of The Descartes Systems Group by 19.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,193,869 shares of the technology company’s stock worth $104,655,000 after acquiring an additional 192,538 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of The Descartes Systems Group by 8.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,459 shares of the technology company’s stock worth $478,000 after acquiring an additional 409 shares during the last quarter. State of Wyoming boosted its position in shares of The Descartes Systems Group by 17.4% during the fourth quarter. State of Wyoming now owns 4,050 shares of the technology company’s stock worth $356,000 after acquiring an additional 600 shares during the last quarter. Finally, Cibc World Market Inc. boosted its position in shares of The Descartes Systems Group by 24.9% during the fourth quarter. Cibc World Market Inc. now owns 58,424 shares of the technology company’s stock worth $5,126,000 after acquiring an additional 11,636 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of research reports. 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 for the company in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce upped their price target on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research note on Thursday, June 4th. BMO Capital Markets decreased their price target on shares of The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. Finally, Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and decreased their price target for the company from $100.00 to $90.00 in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.17.

The Descartes Systems Group Stock Down 0.6%

The Descartes Systems Group stock opened at $74.80 on Wednesday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 37.40 and a beta of 0.64. The firm’s fifty day moving average is $71.71 and its 200 day moving average is $76.14. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $193.57 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The Descartes Systems Group’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

The Descartes Systems Group Company 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.