Westfield Capital Management Co. LP Acquires 56,983 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Westfield Capital Management Co. LP raised its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 652,431 shares of the technology company’s stock after purchasing an additional 56,983 shares during the quarter. Westfield Capital Management Co. LP owned 0.76% of The Descartes Systems Group worth $65,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of DSGX. Mackenzie Financial Corp lifted its position in The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock valued at $561,827,000 after purchasing an additional 2,800,492 shares during the last quarter. Praesidium Investment Management Company LLC bought a new stake in shares of The Descartes Systems Group in the 4th quarter worth about $54,724,000. Fiera Capital Corp lifted its holdings in shares of The Descartes Systems Group by 8.0% in the 1st quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company’s stock worth $276,705,000 after acquiring an additional 202,973 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of The Descartes Systems Group in the 4th quarter worth about $19,392,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of The Descartes Systems Group by 25.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company’s stock worth $63,183,000 after acquiring an additional 125,146 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $104.46 on Monday. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 62.93 and a beta of 0.81. The company’s 50-day simple moving average is $104.54 and its two-hundred day simple moving average is $106.91. The Descartes Systems Group Inc. has a one year low of $90.61 and a one year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $168.74 million for the quarter, compared to analysts’ expectations of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Equities analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

DSGX has been the subject of several analyst reports. Royal Bank Of Canada lowered their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating for the company in a report on Thursday, June 5th. Stephens lowered their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a report on Monday, July 14th. They issued an “equal weight” rating and a $110.00 target price for the company. Barclays lowered their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. Finally, Wall Street Zen lowered shares of The Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.18.

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.