Fmr LLC Has $15.50 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Fmr LLC boosted its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 150,654 shares of the technology company’s stock after acquiring an additional 4,067 shares during the period. Fmr LLC’s holdings in The Descartes Systems Group were worth $15,503,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Intact Investment Management Inc. acquired a new stake in The Descartes Systems Group during the 2nd quarter worth $61,000. Blue Trust Inc. boosted its position in shares of The Descartes Systems Group by 931.7% during the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares in the last quarter. Andra AP fonden bought a new position in shares of The Descartes Systems Group during the second quarter worth $77,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DSGX. Scotiabank lifted their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 29th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Monday, December 2nd. Finally, Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.17.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $119.68 on Wednesday. The Descartes Systems Group Inc. has a fifty-two week low of $79.21 and a fifty-two week high of $122.88. The firm has a market capitalization of $10.23 billion, a PE ratio of 75.27 and a beta of 0.98. The company’s 50-day moving average is $110.42 and its 200-day moving average is $102.40.

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.