Massachusetts Financial Services Co. MA Has $56.97 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Massachusetts Financial Services Co. MA lifted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 501,486 shares of the technology company’s stock after acquiring an additional 30,855 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.59% of The Descartes Systems Group worth $56,969,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in The Descartes Systems Group during the fourth quarter worth about $126,918,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after buying an additional 639,848 shares in the last quarter. National Bank of Canada FI lifted its position in shares of The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock worth $71,911,000 after buying an additional 556,408 shares during the period. Franklin Resources Inc. boosted its stake in The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock valued at $192,502,000 after buying an additional 326,643 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in The Descartes Systems Group by 104.5% in the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock valued at $48,819,000 after acquiring an additional 219,736 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. Loop Capital initiated coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 target price on the stock. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. CIBC dropped their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of The Descartes Systems Group in a report on Friday, March 28th. Finally, Stephens decreased their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.50.

The Descartes Systems Group Stock Down 4.8 %

Shares of DSGX opened at $95.84 on Friday. The stock’s fifty day simple moving average is $108.55 and its 200-day simple moving average is $110.33. The firm has a market capitalization of $8.20 billion, a PE ratio of 60.28 and a beta of 0.99. The Descartes Systems Group Inc. has a 12-month low of $87.20 and a 12-month high of $124.31.

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

About The Descartes Systems Group

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.