Lord Abbett & CO. LLC Increases Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Lord Abbett & CO. LLC boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 672,897 shares of the technology company's stock after buying an additional 72,501 shares during the period. Lord Abbett & CO. LLC owned about 0.79% of The Descartes Systems Group worth $69,282,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. National Bank of Canada FI grew its holdings in shares of The Descartes Systems Group by 389.8% in the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company's stock worth $71,911,000 after purchasing an additional 556,408 shares during the last quarter. William Blair Investment Management LLC bought a new position in The Descartes Systems Group in the second quarter valued at $20,608,000. Triasima Portfolio Management inc. increased its stake in The Descartes Systems Group by 90.1% in the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company's stock valued at $24,584,000 after buying an additional 120,325 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in The Descartes Systems Group during the second quarter worth about $10,503,000. Finally, American Century Companies Inc. raised its stake in shares of The Descartes Systems Group by 65.4% during the 2nd quarter. American Century Companies Inc. now owns 243,985 shares of the technology company's stock worth $23,640,000 after purchasing an additional 96,431 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Down 1.2 %

NASDAQ:DSGX traded down $1.51 during mid-day trading on Friday, reaching $119.73. The company's stock had a trading volume of 184,920 shares, compared to its average volume of 160,457. The stock has a fifty day moving average of $111.56 and a 200-day moving average of $102.85. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $122.88. The firm has a market capitalization of $10.23 billion, a PE ratio of 75.30 and a beta of 0.98.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Scotiabank increased their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 4th. Royal Bank of Canada increased 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 report on Friday, November 29th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a "buy" rating in a research note on Thursday, September 5th. Finally, TD Securities boosted their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and an average price target of $114.17.

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.