The Descartes Systems Group Inc. (NASDAQ:DSGX) Stake Increased by Fmr LLC

Fmr LLC grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,654 shares of the technology company’s stock after purchasing an additional 4,067 shares during the period. Fmr LLC owned approximately 0.18% of The Descartes Systems Group worth $15,503,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Intact Investment Management Inc. acquired a new position in The Descartes Systems Group during the second quarter worth $61,000. Blue Trust Inc. lifted its stake 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 buying an additional 587 shares during the period. Andra AP fonden bought a new stake in shares of The Descartes Systems Group in the second quarter valued at about $77,000. Whittier Trust Co. of Nevada Inc. lifted its stake in The Descartes Systems Group by 143.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after purchasing an additional 704 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake 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 period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $119.68 on Wednesday. The firm has a market cap of $10.23 billion, a P/E ratio of 75.27 and a beta of 0.98. The firm has a 50 day simple moving average of $110.42 and a 200 day simple moving average of $102.40. The Descartes Systems Group Inc. has a fifty-two week low of $79.21 and a fifty-two week high of $122.88.

Analyst Ratings Changes

A number of research analysts have commented on the stock. TD Securities raised 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 note on Wednesday, December 4th. BMO Capital Markets raised their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Monday, December 2nd. Scotiabank raised their price objective on shares of 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. Finally, National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and an average target price of $114.17.

The Descartes Systems Group 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.