Westfield Capital Management Co. LP Acquires 351,700 Shares of The Descartes Systems Group Inc. $DSGX

Westfield Capital Management Co. LP boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 54.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,001,331 shares of the technology company’s stock after purchasing an additional 351,700 shares during the period. Westfield Capital Management Co. LP’s holdings in The Descartes Systems Group were worth $94,355,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its position in The Descartes Systems Group by 2.1% in the second quarter. Mackenzie Financial Corp now owns 3,944,757 shares of the technology company’s stock valued at $400,969,000 after acquiring an additional 80,309 shares during the period. Vanguard Group Inc. lifted its holdings in The Descartes Systems Group by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,533,392 shares of the technology company’s stock valued at $332,697,000 after purchasing an additional 111,492 shares during the last quarter. Fiera Capital Corp boosted its position in The Descartes Systems Group by 10.2% in the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after buying an additional 276,329 shares in the last quarter. Franklin Resources Inc. grew its stake in The Descartes Systems Group by 7.0% during the second quarter. Franklin Resources Inc. now owns 1,837,266 shares of the technology company’s stock worth $186,749,000 after buying an additional 120,137 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of The Descartes Systems Group by 7.9% during the second quarter. Bank of Montreal Can now owns 1,678,473 shares of the technology company’s stock worth $170,613,000 after buying an additional 122,378 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

DSGX stock opened at $64.66 on Thursday. The company has a market cap of $5.56 billion, a P/E ratio of 36.53 and a beta of 0.75. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $117.35. The stock’s fifty day moving average price is $78.75 and its 200-day moving average price is $88.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million during the quarter, compared to the consensus estimate of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DSGX shares. BMO Capital Markets reduced their target price on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $106.00 to $105.00 in a research note on Monday, January 12th. Royal Bank Of Canada set a $126.00 target price on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. Scotiabank reduced their price target on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. Finally, Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, The Descartes Systems Group has a consensus rating of “Buy” and an average target price of $114.20.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.