Geode Capital Management LLC Buys 46,523 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Geode Capital Management LLC lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 479,681 shares of the technology company's stock after purchasing an additional 46,523 shares during the period. Geode Capital Management LLC owned approximately 0.56% of The Descartes Systems Group worth $50,277,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its position in The Descartes Systems Group by 2.8% in the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company's stock worth $1,031,000 after purchasing an additional 270 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of The Descartes Systems Group in the 3rd quarter valued at $1,558,000. XTX Topco Ltd bought a new stake in shares of The Descartes Systems Group during the third quarter worth $456,000. DF Dent & Co. Inc. lifted its stake in shares of The Descartes Systems Group by 27.9% during the third quarter. DF Dent & Co. Inc. now owns 279,675 shares of the technology company's stock valued at $28,795,000 after acquiring an additional 61,080 shares during the period. Finally, National Bank of Canada FI boosted its holdings in The Descartes Systems Group by 389.8% in the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company's stock valued at $71,911,000 after acquiring an additional 556,408 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Trading Up 0.1 %

Shares of NASDAQ DSGX traded up $0.16 during mid-day trading on Monday, reaching $114.68. 209,181 shares of the company's stock were exchanged, compared to its average volume of 162,676. The Descartes Systems Group Inc. has a twelve month low of $79.21 and a twelve month high of $122.88. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 72.13 and a beta of 0.98. The business has a fifty day simple moving average of $113.08 and a 200 day simple moving average of $103.88.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. National Bank Financial raised shares of The Descartes Systems Group to a "strong-buy" rating in a research note on Wednesday, September 25th. Scotiabank increased their price objective on shares of 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. Barclays raised shares of The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Finally, 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 note on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.15.

The Descartes Systems Group Company Profile

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.