JPMorgan Chase & Co. Cuts Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

JPMorgan Chase & Co. cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 55.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,098 shares of the technology company's stock after selling 78,756 shares during the quarter. JPMorgan Chase & Co. owned about 0.07% of The Descartes Systems Group worth $6,497,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its stake in The Descartes Systems Group by 65.4% in the second quarter. American Century Companies Inc. now owns 243,985 shares of the technology company's stock valued at $23,640,000 after purchasing an additional 96,431 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of The Descartes Systems Group by 6.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,777 shares of the technology company's stock valued at $655,000 after buying an additional 398 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of The Descartes Systems Group by 53.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 250,665 shares of the technology company's stock worth $24,274,000 after buying an additional 86,998 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of The Descartes Systems Group by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 111,351 shares of the technology company's stock worth $10,784,000 after buying an additional 9,698 shares during the last quarter. Finally, Wealth Alliance bought a new position in shares of The Descartes Systems Group during the 2nd quarter worth approximately $213,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Stock Performance

NASDAQ DSGX traded up $0.07 on Thursday, reaching $115.04. 116,601 shares of the company's stock traded hands, compared to its average volume of 184,132. The Descartes Systems Group Inc. has a fifty-two week low of $82.88 and a fifty-two week high of $122.88. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 72.35 and a beta of 0.99. The stock has a 50 day moving average price of $115.47 and a 200-day moving average price of $106.11.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DSGX shares. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a report on Thursday, September 26th. Barclays raised The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $88.00 to $125.00 in a research report on Friday, November 15th. TD Securities raised their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a "buy" 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 report on Wednesday, September 25th. Finally, Royal Bank of Canada lifted their target price on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an "outperform" rating in a research note on Friday, November 29th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $117.92.

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.