Canoe Financial LP Buys Shares of 69,888 The Descartes Systems Group Inc. (NASDAQ:DSGX)

Canoe Financial LP purchased a new position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 69,888 shares of the technology company’s stock, valued at approximately $7,939,000.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. Avanza Fonder AB acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth about $118,000. Northwestern Mutual Wealth Management Co. raised its holdings in The Descartes Systems Group by 28.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after buying an additional 279 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in The Descartes Systems Group by 26.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,514 shares of the technology company’s stock valued at $156,000 after buying an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DSGX shares. Scotiabank lifted their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. TD Securities lifted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. BMO Capital Markets upped their price target on 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. Royal Bank of Canada lifted their price objective on 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. Finally, StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Five 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $117.92.

The Descartes Systems Group Trading Up 0.7 %

DSGX stock opened at $115.85 on Friday. The stock has a market cap of $9.90 billion, a P/E ratio of 72.86 and a beta of 0.99. The Descartes Systems Group Inc. has a twelve month low of $84.11 and a twelve month high of $122.88. The company’s 50 day moving average is $115.53 and its two-hundred day moving average is $106.30.

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.