Mackenzie Financial Corp Buys 2,800,492 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Mackenzie Financial Corp raised its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 130.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,947,789 shares of the technology company’s stock after acquiring an additional 2,800,492 shares during the quarter. Mackenzie Financial Corp owned approximately 5.78% of The Descartes Systems Group worth $561,827,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its holdings in The Descartes Systems Group by 2.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,468 shares of the technology company’s stock valued at $1,758,000 after buying an additional 345 shares during the last quarter. Sone Capital Management LLC bought a new position in The Descartes Systems Group in the 4th quarter valued at approximately $4,754,000. Squarepoint Ops LLC bought a new position in The Descartes Systems Group during the 4th quarter worth approximately $712,000. Two Sigma Investments LP raised its holdings in The Descartes Systems Group by 33.5% during the 4th quarter. Two Sigma Investments LP now owns 171,713 shares of the technology company’s stock worth $19,507,000 after purchasing an additional 43,092 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in The Descartes Systems Group by 1.5% during the 4th quarter. Toronto Dominion Bank now owns 110,600 shares of the technology company’s stock worth $12,558,000 after purchasing an additional 1,611 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $114.95 on Friday. The firm has a market cap of $9.84 billion, a PE ratio of 72.30 and a beta of 0.88. The Descartes Systems Group Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $124.31. The business has a 50 day moving average price of $104.84 and a 200-day moving average price of $110.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BMO Capital Markets lowered their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. Barclays reduced their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday, March 28th. Wall Street Zen downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Scotiabank raised their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $122.18.

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.