Clearbridge Investments LLC Invests $36.77 Million in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Clearbridge Investments LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 437,393 shares of the technology company’s stock, valued at approximately $36,767,000. Clearbridge Investments LLC owned 0.51% of The Descartes Systems Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in DSGX. Raymond James Financial Services Advisors Inc. boosted its stake in The Descartes Systems Group by 19.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock valued at $228,000 after buying an additional 500 shares during the period. Signaturefd LLC raised its position in The Descartes Systems Group by 26.7% during the third quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock valued at $51,000 after purchasing an additional 147 shares in the last quarter. Versor Investments LP purchased a new stake in The Descartes Systems Group during the third quarter valued at about $253,000. Cidel Asset Management Inc. raised its position in The Descartes Systems Group by 13.6% during the third quarter. Cidel Asset Management Inc. now owns 90,487 shares of the technology company’s stock valued at $6,672,000 after purchasing an additional 10,836 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in The Descartes Systems Group by 20.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 12,644 shares of the technology company’s stock valued at $928,000 after purchasing an additional 2,152 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the topic of a number of research reports. CIBC upgraded The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and raised their price target for the company from $96.50 to $101.00 in a research report on Tuesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $110.00 price target on shares of The Descartes Systems Group in a research report on Thursday, April 11th. Redburn Atlantic started coverage on The Descartes Systems Group in a report on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. Barclays lifted their price objective on The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. Finally, StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $98.80.

The Descartes Systems Group Stock Up 0.8 %

Shares of DSGX opened at $99.39 on Thursday. The business’s 50 day moving average price is $93.44 and its 200-day moving average price is $87.62. The Descartes Systems Group Inc. has a 52 week low of $69.59 and a 52 week high of $100.37. The stock has a market cap of $8.47 billion, a P/E ratio of 74.17 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $148.20 million during the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, equities analysts anticipate that The Descartes Systems Group Inc. will post 1.69 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.