Lazard Asset Management LLC Purchases 1,102 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Lazard Asset Management LLC grew its position in The Descartes Systems Group Inc. (NASDAQ:DSGXGet Rating) (TSE:DSG) by 115.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,055 shares of the technology company’s stock after acquiring an additional 1,102 shares during the quarter. Lazard Asset Management LLC’s holdings in The Descartes Systems Group were worth $127,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DSGX. Durable Capital Partners LP lifted its position in shares of The Descartes Systems Group by 60.6% in the 1st quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock worth $189,381,000 after acquiring an additional 975,727 shares during the period. Wasatch Advisors Inc. bought a new position in shares of The Descartes Systems Group during the 1st quarter worth approximately $66,482,000. Principal Financial Group Inc. bought a new position in shares of The Descartes Systems Group during the 1st quarter worth approximately $41,939,000. The Manufacturers Life Insurance Company lifted its position in shares of The Descartes Systems Group by 46.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,803,787 shares of the technology company’s stock worth $132,240,000 after buying an additional 570,744 shares during the period. Finally, Invesco Ltd. lifted its position in shares of The Descartes Systems Group by 28.7% during the 1st quarter. Invesco Ltd. now owns 1,638,074 shares of the technology company’s stock worth $120,005,000 after buying an additional 365,533 shares during the period. Institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several analyst reports. Barclays downgraded The Descartes Systems Group from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $72.00 to $60.00 in a research report on Tuesday, October 18th. Wolfe Research downgraded The Descartes Systems Group from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 17th. StockNews.com initiated coverage on The Descartes Systems Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. TD Securities raised their price target on The Descartes Systems Group from $84.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 8th. Finally, Canaccord Genuity Group raised their price target on The Descartes Systems Group from $74.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.89.

The Descartes Systems Group Price Performance

DSGX stock opened at $68.60 on Wednesday. The business has a fifty day moving average price of $67.27 and a 200 day moving average price of $65.91. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 64.72 and a beta of 1.03. The Descartes Systems Group Inc. has a fifty-two week low of $56.19 and a fifty-two week high of $86.58.

The Descartes Systems Group (NASDAQ:DSGXGet Rating) (TSE:DSG) last released its earnings results on Wednesday, September 7th. The technology company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $123.01 million during the quarter, compared to analysts’ expectations of $118.72 million. The Descartes Systems Group had a return on equity of 8.97% and a net margin of 19.69%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.08 earnings per share for the current fiscal year.

The Descartes Systems Group Profile

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The Descartes Systems Group Inc provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business.

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Institutional Ownership by Quarter for The Descartes Systems Group (NASDAQ:DSGX)

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