Royal Bank of Canada Acquires 125,597 Shares of The Descartes Systems Group Inc. $DSGX

Royal Bank of Canada boosted its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 22.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 694,236 shares of the technology company’s stock after acquiring an additional 125,597 shares during the period. Royal Bank of Canada owned 0.81% of The Descartes Systems Group worth $70,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DSGX. Mackenzie Financial Corp increased its position in The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company’s stock worth $561,827,000 after purchasing an additional 2,800,492 shares during the period. Price T Rowe Associates Inc. MD increased its position in The Descartes Systems Group by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company’s stock worth $719,370,000 after purchasing an additional 936,718 shares during the period. Praesidium Investment Management Company LLC acquired a new stake in The Descartes Systems Group in the fourth quarter worth about $54,724,000. Nuveen LLC acquired a new stake in The Descartes Systems Group in the first quarter worth about $21,074,000. Finally, Fiera Capital Corp increased its position in The Descartes Systems Group by 8.0% in the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company’s stock worth $276,705,000 after purchasing an additional 202,973 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $106.22 on Friday. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The stock has a market capitalization of $9.13 billion, a PE ratio of 62.85 and a beta of 0.80. The business’s 50-day simple moving average is $102.33 and its 200-day simple moving average is $104.24.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.60%. The business had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. During the same quarter last year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DSGX. Wall Street Zen lowered The Descartes Systems Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Royal Bank Of Canada reduced their target price on The Descartes Systems Group from $130.00 to $126.00 and set an “outperform” rating on the stock in a report on Thursday, June 5th. Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an “equal weight” rating and a $110.00 target price on the stock. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday. Finally, Barclays reduced their target price on The Descartes Systems Group from $118.00 to $108.00 and set an “equal weight” rating on the stock in a report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.60.

The Descartes Systems Group 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.