Peregrine Capital Management LLC acquired a new position in The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 121,176 shares of the technology company’s stock, valued at approximately $8,671,000.
Several other hedge funds have also recently added to or reduced their stakes in DSGX. AXA S.A. grew its stake in shares of The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after purchasing an additional 130 shares in the last quarter. Reynders McVeigh Capital Management LLC increased its stake in The Descartes Systems Group by 0.3% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,260 shares of the technology company’s stock valued at $5,207,000 after buying an additional 140 shares during the period. Orion Porfolio Solutions LLC raised its position in shares of The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after buying an additional 143 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its stake in shares of The Descartes Systems Group by 0.3% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 48,080 shares of the technology company’s stock worth $4,529,000 after acquiring an additional 150 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of The Descartes Systems Group by 18.7% in the 4th quarter. GAMMA Investing LLC now owns 1,049 shares of the technology company’s stock worth $92,000 after acquiring an additional 165 shares during the period. Institutional investors own 77.73% of the company’s stock.
The Descartes Systems Group Stock Down 0.4%
Shares of NASDAQ DSGX opened at $69.24 on Wednesday. The stock’s fifty day simple moving average is $71.61 and its 200 day simple moving average is $74.47. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 34.62 and a beta of 0.64. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00.
Analyst Ratings Changes
Several brokerages recently commented on DSGX. Rothschild & Co Redburn raised The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $100.00 to $90.00 in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce boosted their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 4th. Morgan Stanley cut their price objective on The Descartes Systems Group from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. BMO Capital Markets lowered their target price on The Descartes Systems Group from $95.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, March 12th. Finally, Barclays lowered their price objective on shares of The Descartes Systems Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.17.
Check Out Our Latest Stock Analysis on DSGX
The Descartes Systems Group Profile
The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.
Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.
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