Mackenzie Financial Corp Grows Position in The Descartes Systems Group Inc. $DSGX

Mackenzie Financial Corp grew its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,944,757 shares of the technology company’s stock after acquiring an additional 80,309 shares during the quarter. Mackenzie Financial Corp’s holdings in The Descartes Systems Group were worth $400,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in The Descartes Systems Group by 23.2% in the second quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after buying an additional 117 shares during the period. Ritholtz Wealth Management grew its stake in The Descartes Systems Group by 1.9% during the second quarter. Ritholtz Wealth Management now owns 6,540 shares of the technology company’s stock worth $665,000 after buying an additional 125 shares during the period. Vista Finance LLC increased its position in shares of The Descartes Systems Group by 4.0% in the second quarter. Vista Finance LLC now owns 3,245 shares of the technology company’s stock worth $330,000 after acquiring an additional 126 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of The Descartes Systems Group by 35.1% during the 2nd quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock valued at $59,000 after acquiring an additional 152 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its holdings in shares of The Descartes Systems Group by 4.7% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 3,464 shares of the technology company’s stock valued at $349,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

DSGX has been the subject of several recent research reports. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a report on Tuesday. TD Cowen restated a “buy” rating and set a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Morgan Stanley decreased their target price on The Descartes Systems Group from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Thursday, November 20th. Finally, TD Securities began coverage on shares of The Descartes Systems Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $121.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and an average target price of $120.70.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $82.42 on Friday. The Descartes Systems Group Inc. has a 12-month low of $78.88 and a 12-month high of $124.31. The stock has a market capitalization of $7.09 billion, a PE ratio of 48.77 and a beta of 0.75. The firm has a 50 day simple moving average of $90.41 and a 200-day simple moving average of $99.51.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same period in the previous year, the firm earned $0.40 earnings per share. The Descartes Systems Group’s revenue was up 10.0% on a year-over-year basis. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.