Lazard Asset Management LLC Takes Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Lazard Asset Management LLC purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,866 shares of the technology company’s stock, valued at approximately $1,347,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DSGX. Norges Bank bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at $126,918,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of The Descartes Systems Group by 114.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after acquiring an additional 639,848 shares in the last quarter. Franklin Resources Inc. increased its holdings in The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after buying an additional 326,643 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in The Descartes Systems Group by 104.5% in the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after buying an additional 219,736 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in The Descartes Systems Group in the 4th quarter worth about $19,392,000. 77.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on DSGX. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. CIBC reduced their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Scotiabank lifted their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of The Descartes Systems Group in a research report on Friday, March 28th. Finally, Stephens dropped their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Four 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $113.50 on Monday. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of 71.38 and a beta of 0.88. The stock’s 50-day simple moving average is $103.37 and its two-hundred day simple moving average is $110.59.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.