Price T Rowe Associates Inc. MD Has $704.07 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Price T Rowe Associates Inc. MD reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,197,749 shares of the technology company’s stock after selling 1,366,282 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.07% of The Descartes Systems Group worth $704,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in The Descartes Systems Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company’s stock worth $375,047,000 after buying an additional 54,341 shares during the last quarter. Franklin Resources Inc. grew its position in The Descartes Systems Group by 23.9% in the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after acquiring an additional 326,643 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of The Descartes Systems Group by 114.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after purchasing an additional 639,848 shares during the last quarter. Norges Bank bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at $126,918,000. Finally, TD Asset Management Inc. lifted its stake in shares of The Descartes Systems Group by 3.2% in the 4th quarter. TD Asset Management Inc. now owns 899,762 shares of the technology company’s stock valued at $102,224,000 after purchasing an additional 28,204 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $105.70 on Friday. The firm’s 50-day moving average is $103.32 and its 200-day moving average is $110.16. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 66.48 and a beta of 0.97. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank raised their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 26th. Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a research note on Friday, March 28th. Finally, BMO Capital Markets lowered their target price on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average price target of $119.50.

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.