Canoe Financial LP acquired a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 69,888 shares of the technology company's stock, valued at approximately $7,939,000. Canoe Financial LP owned approximately 0.08% of The Descartes Systems Group at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in DSGX. GAMMA Investing LLC lifted its stake in The Descartes Systems Group by 4,950.0% in the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after buying an additional 495 shares in the last quarter. Blue Trust Inc. lifted its position in shares of The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company's stock valued at $63,000 after acquiring an additional 587 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of The Descartes Systems Group in the fourth quarter worth approximately $118,000. Northwestern Mutual Wealth Management Co. increased its position in shares of The Descartes Systems Group by 28.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company's stock worth $122,000 after purchasing an additional 279 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of The Descartes Systems Group by 26.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company's stock worth $156,000 after purchasing an additional 320 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.
The Descartes Systems Group Price Performance
Shares of NASDAQ:DSGX traded up $0.81 during midday trading on Friday, reaching $115.85. 258,738 shares of the company's stock were exchanged, compared to its average volume of 173,042. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 72.86 and a beta of 0.99. The Descartes Systems Group Inc. has a fifty-two week low of $84.11 and a fifty-two week high of $122.88. The firm's 50 day simple moving average is $115.53 and its two-hundred day simple moving average is $106.35.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Scotiabank raised their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a "sector outperform" rating in a report on Wednesday, December 4th. National Bank Financial upgraded shares of The Descartes Systems Group to a "strong-buy" rating in a research report on Wednesday, September 25th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the company an "outperform" rating in a report on Thursday, September 26th. Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a "buy" rating and a $140.00 target price on the stock. Finally, BMO Capital Markets upped their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $117.92.
Read Our Latest Research Report on DSGX
About The Descartes Systems Group
(
Free Report)
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.
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