Raymond James Financial Inc. Makes New $19.39 Million Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Raymond James Financial Inc. purchased a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 170,710 shares of the technology company’s stock, valued at approximately $19,392,000.

A number of other large investors have also added to or reduced their stakes in DSGX. Empowered Funds LLC grew its holdings in The Descartes Systems Group by 25.0% in the 3rd quarter. Empowered Funds LLC now owns 18,872 shares of the technology company’s stock worth $1,943,000 after acquiring an additional 3,780 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of The Descartes Systems Group by 1.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 245,099 shares of the technology company’s stock worth $25,235,000 after purchasing an additional 3,312 shares during the period. Swiss National Bank lifted its position in shares of The Descartes Systems Group by 1.1% in the 3rd quarter. Swiss National Bank now owns 258,324 shares of the technology company’s stock worth $26,624,000 after purchasing an additional 2,700 shares during the period. Pathstone Holdings LLC lifted its position in shares of The Descartes Systems Group by 1.8% in the 3rd quarter. Pathstone Holdings LLC now owns 53,434 shares of the technology company’s stock worth $5,502,000 after purchasing an additional 934 shares during the period. Finally, Avior Wealth Management LLC lifted its position in shares of The Descartes Systems Group by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company’s stock worth $440,000 after purchasing an additional 117 shares during the period. Institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Scotiabank raised their target price on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays lowered their price target 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. Finally, Royal Bank of Canada lowered their price target on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $99.39 on Monday. The firm has a market cap of $8.51 billion, a P/E ratio of 62.51 and a beta of 0.99. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The firm has a 50-day simple moving average of $112.73 and a two-hundred day simple moving average of $110.18.

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

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.