Oak Ridge Investments LLC Trims Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Oak Ridge Investments LLC cut its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.5% in the fourth quarter, HoldingsChannel reports. The fund owned 36,080 shares of the technology company’s stock after selling 924 shares during the period. Oak Ridge Investments LLC’s holdings in The Descartes Systems Group were worth $4,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of DSGX. Trust Co. of Vermont acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at $54,000. GAMMA Investing LLC boosted its stake in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares in the last quarter. Blue Trust Inc. increased its stake in shares of The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares in the last quarter. Avanza Fonder AB acquired a new position in The Descartes Systems Group in the 4th quarter worth about $118,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in The Descartes Systems Group by 28.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock valued at $122,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $115.85 on Friday. The business has a 50 day moving average price of $115.53 and a 200 day moving average price of $106.35. The company has a market capitalization of $9.90 billion, a P/E ratio of 72.86 and a beta of 0.99. The Descartes Systems Group Inc. has a 1 year low of $84.11 and a 1 year high of $122.88.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DSGX. TD Securities lifted their target price on shares of 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. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets boosted their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Scotiabank raised their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Five 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.92.

The Descartes Systems Group Company 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.