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

Westfield Capital Management Co. LP boosted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 54.1% in the third quarter, according to its most recent disclosure 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 quarter. Westfield Capital Management Co. LP owned about 1.17% of The Descartes Systems Group worth $94,355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of The Descartes Systems Group in the second quarter worth $117,678,000. Temasek Holdings Private Ltd bought a new position in The Descartes Systems Group in the 2nd quarter worth $91,155,000. CIBC Asset Management Inc lifted its position in The Descartes Systems Group by 275.4% during the 2nd quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company’s stock worth $85,085,000 after acquiring an additional 613,009 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in The Descartes Systems Group during the 2nd quarter worth $48,378,000. Finally, Fiera Capital Corp boosted its holdings in The Descartes Systems Group by 10.2% during the third quarter. Fiera Capital Corp now owns 2,976,093 shares of the technology company’s stock valued at $280,123,000 after acquiring an additional 276,329 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Barclays upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $106.00 to $105.00 in a research note on Monday, January 12th. Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target on the stock in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Finally, TD Securities raised The Descartes Systems Group to a “strong-buy” rating in a research report on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Trading Up 1.7%

Shares of DSGX stock opened at $64.66 on Thursday. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The company has a market capitalization of $5.56 billion, a P/E ratio of 36.53 and a beta of 0.75. The stock has a 50 day moving average of $78.75 and a two-hundred day moving average of $88.54.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The Descartes Systems Group’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

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.