Massachusetts Financial Services Co. MA Has $44.63 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Massachusetts Financial Services Co. MA lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 460,863 shares of the technology company’s stock after selling 27,000 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.54% of The Descartes Systems Group worth $44,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DSGX. Assenagon Asset Management S.A. grew its stake in The Descartes Systems Group by 4.3% in the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock valued at $371,000 after purchasing an additional 158 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its holdings in The Descartes Systems Group by 0.3% during the fourth quarter. Bank of Nova Scotia Trust Co. now owns 51,532 shares of the technology company’s stock worth $4,332,000 after buying an additional 173 shares during the last quarter. Prudential PLC raised its position in The Descartes Systems Group by 1.8% during the fourth quarter. Prudential PLC now owns 10,778 shares of the technology company’s stock worth $906,000 after acquiring an additional 193 shares in the last quarter. Park Place Capital Corp lifted its stake in The Descartes Systems Group by 31.6% in the second quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after acquiring an additional 212 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of The Descartes Systems Group by 18.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,417 shares of the technology company’s stock valued at $137,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the topic of a number of research analyst reports. BMO Capital Markets upped their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a report on Thursday, September 5th. Raymond James upped their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. Barclays lifted their target price on The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research note on Thursday, September 5th. Scotiabank boosted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a report on Friday, May 31st. Finally, Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.00.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $103.03 on Friday. The Descartes Systems Group Inc. has a 52 week low of $69.59 and a 52 week high of $104.71. The firm’s 50-day simple moving average is $98.94 and its 200 day simple moving average is $95.79. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 73.59 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.67 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.