Raymond James Financial Inc. Purchases Shares of 170,710 The Descartes Systems Group Inc. (NASDAQ:DSGX)

Raymond James Financial Inc. purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 170,710 shares of the technology company’s stock, valued at approximately $19,392,000.

Several other large investors also recently made changes to their positions in the stock. APG Asset Management N.V. boosted its stake in The Descartes Systems Group by 374.0% in the 4th quarter. APG Asset Management N.V. now owns 65,407 shares of the technology company’s stock worth $7,176,000 after purchasing an additional 51,607 shares during the period. Bank of Nova Scotia boosted its position in shares of The Descartes Systems Group by 1.2% during the fourth quarter. Bank of Nova Scotia now owns 459,576 shares of the technology company’s stock worth $52,233,000 after buying an additional 5,399 shares during the period. Cerity Partners LLC grew its holdings in shares of The Descartes Systems Group by 44.9% during the fourth quarter. Cerity Partners LLC now owns 3,497 shares of the technology company’s stock worth $392,000 after buying an additional 1,084 shares in the last quarter. Wells Fargo & Company MN raised its position in The Descartes Systems Group by 42.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,587 shares of the technology company’s stock valued at $748,000 after buying an additional 1,977 shares during the last quarter. Finally, Quantum Capital Management LLC NJ bought a new stake in The Descartes Systems Group in the 4th quarter valued at approximately $14,961,000. Institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DSGX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of The Descartes Systems Group in a research note on Friday, March 28th. CIBC lowered their target price on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays lowered their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Finally, Stephens dropped their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.50.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $102.32 on Friday. The company has a market cap of $8.76 billion, a P/E ratio of 64.35 and a beta of 0.97. The firm’s fifty day moving average price is $104.41 and its two-hundred day moving average price is $110.18. The Descartes Systems Group Inc. has a one year low of $89.00 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business 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 earnings per share for the current year.

The Descartes Systems Group Company Profile

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.