Oppenheimer & Co. Inc. purchased a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,537 shares of the technology company’s stock, valued at approximately $527,000.
Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of The Descartes Systems Group by 20.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,948,727 shares of the technology company’s stock valued at $762,578,000 after purchasing an additional 1,834,084 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in The Descartes Systems Group by 0.5% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,004,274 shares of the technology company’s stock worth $242,175,000 after purchasing an additional 16,167 shares in the last quarter. Vanguard Group Inc. grew its position in The Descartes Systems Group by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,892,052 shares of the technology company’s stock worth $183,732,000 after purchasing an additional 88,518 shares in the last quarter. Durable Capital Partners LP grew its position in The Descartes Systems Group by 60.6% in the 1st quarter. Durable Capital Partners LP now owns 2,585,059 shares of the technology company’s stock worth $189,381,000 after purchasing an additional 975,727 shares in the last quarter. Finally, Fiera Capital Corp grew its position in The Descartes Systems Group by 4.1% in the 4th quarter. Fiera Capital Corp now owns 2,061,170 shares of the technology company’s stock worth $143,794,000 after purchasing an additional 81,577 shares in the last quarter. Institutional investors and hedge funds own 76.73% of the company’s stock.
The Descartes Systems Group Stock Up 0.7 %
The Descartes Systems Group stock opened at $74.11 on Tuesday. The company has a market capitalization of $6.30 billion, a P/E ratio of 58.82 and a beta of 1.02. The firm has a 50 day moving average price of $76.50 and a 200-day moving average price of $77.05. The Descartes Systems Group Inc. has a twelve month low of $61.26 and a twelve month high of $82.02.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on DSGX. SpectralCast reaffirmed a “maintains” rating on shares of The Descartes Systems Group in a research report on Thursday, June 1st. Stephens upped their price objective on shares of The Descartes Systems Group from $90.00 to $93.00 in a research report on Thursday, June 1st. 22nd Century Group reaffirmed a “maintains” rating on shares of The Descartes Systems Group in a research report on Thursday, June 1st. TD Securities upped their price objective on shares of The Descartes Systems Group from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, June 1st. Finally, Barclays increased their target price on shares of The Descartes Systems Group from $62.00 to $65.00 in a research report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.86.
The Descartes Systems Group Company Profile
The Descartes Systems Group Inc provides cloud-based logistics and supply chain solutions worldwide. The company's 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; e-commerce shipping and fulfillment; customs and regulatory compliance; trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.
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