Price T Rowe Associates Inc. MD Buys 936,718 Shares of The Descartes Systems Group Inc. $DSGX

Price T Rowe Associates Inc. MD boosted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,134,467 shares of the technology company’s stock after purchasing an additional 936,718 shares during the quarter. Price T Rowe Associates Inc. MD owned about 8.33% of The Descartes Systems Group worth $719,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. boosted its position in The Descartes Systems Group by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,947,947 shares of the technology company’s stock valued at $196,412,000 after purchasing an additional 181,086 shares in the last quarter. Wellington Management Group LLP boosted its holdings in The Descartes Systems Group by 30.2% in the first quarter. Wellington Management Group LLP now owns 10,357 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 2,400 shares in the last quarter. Korea Investment CORP boosted its holdings in The Descartes Systems Group by 4.3% in the first quarter. Korea Investment CORP now owns 44,101 shares of the technology company’s stock worth $4,439,000 after acquiring an additional 1,800 shares in the last quarter. Northern Trust Corp boosted its holdings in The Descartes Systems Group by 39.0% in the first quarter. Northern Trust Corp now owns 112,262 shares of the technology company’s stock worth $11,319,000 after acquiring an additional 31,525 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in The Descartes Systems Group by 84.5% in the first quarter. Northwest & Ethical Investments L.P. now owns 43,521 shares of the technology company’s stock worth $4,385,000 after acquiring an additional 19,938 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Up 2.3%

Shares of NASDAQ:DSGX opened at $101.37 on Friday. The Descartes Systems Group Inc. has a 52-week low of $92.00 and a 52-week high of $124.31. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 61.07 and a beta of 0.81. The business has a 50-day moving average price of $102.32 and a 200-day moving average price of $105.34.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The firm had revenue of $168.74 million during the quarter, compared to analysts’ expectations of $169.60 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank Of Canada lowered their price target on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, June 5th. Wall Street Zen downgraded The Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Morgan Stanley assumed coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an “equal weight” rating and a $110.00 price target for the company. Finally, Barclays lowered their price target on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.18.

The Descartes Systems Group 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.