The Descartes Systems Group Inc. (NASDAQ:DSGX) Holdings Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 665,134 shares of the technology company’s stock after buying an additional 102,208 shares during the period. Allspring Global Investments Holdings LLC owned 0.78% of The Descartes Systems Group worth $75,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. National Bank of Canada FI raised its stake in 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 acquiring an additional 556,408 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of The Descartes Systems Group by 12.1% during the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after purchasing an additional 72,501 shares during the period. Vontobel Holding Ltd. raised its stake in shares of The Descartes Systems Group by 52.5% during the third quarter. Vontobel Holding Ltd. now owns 210,280 shares of the technology company’s stock valued at $21,636,000 after purchasing an additional 72,435 shares in the last quarter. Canoe Financial LP acquired a new stake in The Descartes Systems Group in the fourth quarter worth about $7,939,000. Finally, DF Dent & Co. Inc. grew its position in The Descartes Systems Group by 27.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 279,675 shares of the technology company’s stock valued at $28,795,000 after buying an additional 61,080 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DSGX shares. TD Securities boosted their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their target price 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. 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. Scotiabank boosted their price objective on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens raised The Descartes Systems Group to a “strong-buy” rating in a research note on Saturday, February 1st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Trading Down 3.9 %

DSGX stock opened at $114.05 on Thursday. The Descartes Systems Group Inc. has a one year low of $84.12 and a one year high of $124.31. The firm has a 50-day moving average of $116.40 and a two-hundred day moving average of $108.57. The firm has a market capitalization of $9.76 billion, a PE ratio of 71.73 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly 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 net margin of 21.80% and a return on equity of 10.65%. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.