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

Raymond James Financial Inc. acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 170,710 shares of the technology company’s stock, valued at approximately $19,392,000. Raymond James Financial Inc. owned 0.20% of The Descartes Systems Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. raised its position in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares during the period. SBI Securities Co. Ltd. bought a new stake in The Descartes Systems Group in the fourth quarter worth about $43,000. Trust Co. of Vermont bought a new stake in shares of The Descartes Systems Group in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC lifted its stake in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $99.39 on Monday. The company’s fifty day moving average price is $112.73 and its 200-day moving average price is $110.18. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 62.51 and a beta of 0.99. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million for 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%. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada dropped their price target on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. BMO Capital Markets dropped their price target 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. Finally, Barclays dropped their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.33.

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.