Franklin Resources Inc. Increases Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Franklin Resources Inc. raised its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 23.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,694,589 shares of the technology company’s stock after purchasing an additional 326,643 shares during the period. Franklin Resources Inc. owned approximately 1.98% of The Descartes Systems Group worth $192,502,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DSGX. Wellington Management Group LLP raised its holdings in shares of The Descartes Systems Group by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 7,957 shares of the technology company’s stock valued at $904,000 after buying an additional 438 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of The Descartes Systems Group by 27.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,232 shares of the technology company’s stock worth $2,298,000 after acquiring an additional 4,383 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of The Descartes Systems Group by 35.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,739 shares of the technology company’s stock valued at $310,000 after purchasing an additional 717 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock valued at $136,175,000 after purchasing an additional 639,848 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of The Descartes Systems Group by 2.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 33,316 shares of the technology company’s stock valued at $3,785,000 after purchasing an additional 908 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several analyst reports. Barclays cut their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. BMO Capital Markets reduced their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective for the company. Scotiabank raised their target price on shares of 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.50.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $101.87 on Wednesday. The Descartes Systems Group Inc. has a fifty-two week low of $87.20 and a fifty-two week high of $124.31. The firm’s 50-day simple moving average is $110.06 and its two-hundred day simple moving average is $110.44. The stock has a market cap of $8.72 billion, a PE ratio of 64.07 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.