Addenda Capital Inc. Sells 10,360 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Addenda Capital Inc. decreased its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,840 shares of the technology company's stock after selling 10,360 shares during the period. The Descartes Systems Group makes up about 1.1% of Addenda Capital Inc.'s portfolio, making the stock its 27th largest position. Addenda Capital Inc. owned approximately 0.24% of The Descartes Systems Group worth $23,156,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Trust Co. of Vermont purchased a new stake in The Descartes Systems Group in the 4th quarter valued at $54,000. GAMMA Investing LLC grew its stake in shares of 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 worth $57,000 after acquiring an additional 495 shares in the last quarter. Blue Trust Inc. raised its holdings 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 purchasing an additional 587 shares during the last quarter. Avanza Fonder AB bought a new position in shares of The Descartes Systems Group during the fourth quarter valued at about $118,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in 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 during the last quarter. 77.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on DSGX shares. Royal Bank of Canada increased their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an "outperform" rating in a research note on Friday, November 29th. TD Securities increased their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Scotiabank boosted their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 4th. Barclays raised The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, National Bank Financial raised shares of The Descartes Systems Group to a "strong-buy" rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $117.92.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock traded up $2.68 during mid-day trading on Tuesday, reaching $118.53. The company's stock had a trading volume of 189,645 shares, compared to its average volume of 191,529. The company has a market capitalization of $10.14 billion, a P/E ratio of 74.55 and a beta of 0.99. The firm's fifty day moving average price is $115.53 and its two-hundred day moving average price is $106.52. The Descartes Systems Group Inc. has a 12-month low of $84.12 and a 12-month high of $122.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. During the same period in the previous year, the firm earned $0.31 earnings per share. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal 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.