Addenda Capital Inc. Trims Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Addenda Capital Inc. lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,840 shares of the technology company’s stock after selling 10,360 shares during the quarter. The Descartes Systems Group makes up approximately 1.1% of Addenda Capital Inc.’s holdings, making the stock its 27th largest holding. Addenda Capital Inc. owned 0.24% of The Descartes Systems Group worth $23,156,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC raised its holdings in The Descartes Systems Group by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock valued at $326,238,000 after acquiring an additional 52,485 shares during the last quarter. Fiera Capital Corp increased its stake in The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after purchasing an additional 19,817 shares during the last quarter. Mackenzie Financial Corp lifted its position in The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after buying an additional 91,301 shares during the period. Bank of Montreal Can boosted its stake in The Descartes Systems Group by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock worth $147,434,000 after buying an additional 21,105 shares during the last quarter. Finally, Geneva Capital Management LLC grew its holdings in The Descartes Systems Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock valued at $152,037,000 after buying an additional 19,002 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DSGX shares. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Royal Bank of Canada upped their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $88.00 to $125.00 in a report on Friday, November 15th. Finally, Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Stock Up 0.7 %

NASDAQ DSGX opened at $115.85 on Tuesday. The Descartes Systems Group Inc. has a fifty-two week low of $84.11 and a fifty-two week high of $122.88. The business has a 50 day moving average price of $115.53 and a two-hundred day moving average price of $106.52. The stock has a market cap of $9.91 billion, a PE ratio of 72.86 and a beta of 0.99.

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.