Geode Capital Management LLC Acquires 46,523 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Geode Capital Management LLC grew its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 479,681 shares of the technology company’s stock after purchasing an additional 46,523 shares during the period. Geode Capital Management LLC owned about 0.56% of The Descartes Systems Group worth $50,277,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. increased its holdings in The Descartes Systems Group by 4.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after buying an additional 158 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of The Descartes Systems Group in the second quarter worth approximately $3,264,000. Allspring Global Investments Holdings LLC raised its holdings in shares of The Descartes Systems Group by 8.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 593,906 shares of the technology company’s stock valued at $57,514,000 after purchasing an additional 47,481 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in The Descartes Systems Group by 2.2% during the second quarter. Conestoga Capital Advisors LLC now owns 3,116,109 shares of the technology company’s stock valued at $301,764,000 after purchasing an additional 66,645 shares during the period. Finally, Whittier Trust Co. boosted its holdings in The Descartes Systems Group by 10.3% in the second quarter. Whittier Trust Co. now owns 8,515 shares of the technology company’s stock worth $825,000 after purchasing an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Securities increased their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report 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 Thursday, December 12th. BMO Capital Markets upped their price objective 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. Scotiabank lifted their target price on 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. Finally, Royal Bank of Canada boosted their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.15.

The Descartes Systems Group Stock Performance

DSGX stock opened at $114.52 on Monday. The company has a market capitalization of $9.79 billion, a PE ratio of 72.03 and a beta of 0.98. The company’s fifty day moving average price is $112.87 and its 200-day moving average price is $103.73. The Descartes Systems Group Inc. has a one year low of $79.21 and a one year high of $122.88.

About The Descartes Systems Group

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.