Alberta Investment Management Corp Grows Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Alberta Investment Management Corp boosted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 21.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,687 shares of the technology company’s stock after buying an additional 18,200 shares during the quarter. Alberta Investment Management Corp’s holdings in The Descartes Systems Group were worth $11,780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Conestoga Capital Advisors LLC raised its position 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 buying an additional 52,485 shares during the last quarter. Fiera Capital Corp increased its position in shares of The Descartes Systems Group by 0.8% during the 3rd 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. Geneva Capital Management LLC increased its position in shares of The Descartes Systems Group by 1.3% during 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 purchasing an additional 19,002 shares during the last quarter. Franklin Resources Inc. increased its position in shares of The Descartes Systems Group by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,367,946 shares of the technology company’s stock valued at $142,693,000 after purchasing an additional 40,807 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after purchasing an additional 556,408 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DSGX has been the subject of several research analyst reports. Stephens raised The Descartes Systems Group to a “strong-buy” rating in a research report on Saturday, February 1st. Loop Capital initiated coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Royal Bank of Canada raised their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. TD Securities raised their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Stock Down 0.1 %

Shares of NASDAQ DSGX opened at $114.73 on Thursday. The Descartes Systems Group Inc. has a 52 week low of $84.12 and a 52 week high of $124.31. The business has a 50-day simple moving average of $115.99 and a two-hundred day simple moving average of $109.13. The company has a market cap of $9.82 billion, a P/E ratio of 72.16 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the prior year, the company posted $0.31 earnings per share. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Profile

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.