The Descartes Systems Group Inc. $DSGX Position Boosted by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 303.0% in the third quarter, HoldingsChannel reports. The fund owned 339,370 shares of the technology company’s stock after buying an additional 255,154 shares during the period. The Descartes Systems Group makes up about 1.1% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 28th largest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in The Descartes Systems Group were worth $31,961,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DSGX. Teacher Retirement System of Texas acquired a new position in The Descartes Systems Group during the 3rd quarter valued at about $8,528,000. Y Intercept Hong Kong Ltd bought a new position in shares of The Descartes Systems Group in the third quarter valued at approximately $2,460,000. Grandeur Peak Global Advisors LLC boosted its holdings in shares of The Descartes Systems Group by 41.2% in the second quarter. Grandeur Peak Global Advisors LLC now owns 371,075 shares of the technology company’s stock valued at $37,720,000 after acquiring an additional 108,250 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of The Descartes Systems Group by 15.3% during the third quarter. CIBC Asset Management Inc now owns 963,361 shares of the technology company’s stock valued at $91,369,000 after acquiring an additional 127,762 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new position in shares of The Descartes Systems Group during the third quarter valued at approximately $10,031,000. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DSGX has been the subject of a number of research analyst reports. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. BMO Capital Markets lowered their price target on The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a research report on Thursday, December 4th. Barclays raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $106.00 to $105.00 in a research note on Monday, January 12th. Morgan Stanley upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $72.26 on Tuesday. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 40.83 and a beta of 0.77. The Descartes Systems Group Inc. has a 1 year low of $62.56 and a 1 year high of $117.35. The firm’s 50 day moving average price is $75.57 and its two-hundred day moving average price is $86.81.

The Descartes Systems Group Company 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.