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

Massachusetts Financial Services Co. MA grew its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 501,486 shares of the technology company’s stock after buying an additional 30,855 shares during the period. Massachusetts Financial Services Co. MA’s holdings in The Descartes Systems Group were worth $56,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of DSGX. EverSource Wealth Advisors LLC increased its position in shares of The Descartes Systems Group by 14.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock valued at $96,000 after buying an additional 108 shares in the last quarter. Mather Group LLC. increased its holdings in shares of 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 in the last quarter. Allworth Financial LP raised its position in shares of The Descartes Systems Group by 39.8% during the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after purchasing an additional 182 shares during the period. Northwest & Ethical Investments L.P. raised its position in shares of The Descartes Systems Group by 1.0% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock worth $2,677,000 after purchasing an additional 222 shares during the period. Finally, Barclays PLC lifted its holdings in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock valued at $1,031,000 after purchasing an additional 270 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. CIBC reduced their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Scotiabank increased their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. Finally, StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.50.

The Descartes Systems Group Stock Performance

DSGX opened at $95.84 on Friday. The business’s 50-day simple moving average is $108.55 and its 200 day simple moving average is $110.33. The Descartes Systems Group Inc. has a 52-week low of $87.20 and a 52-week high of $124.31. 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 (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.