Canandaigua National Bank & Trust Co. bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX – Free Report) (TSE:DSG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,047 shares of the technology company’s stock, valued at approximately $295,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new position in shares of The Descartes Systems Group in the 4th quarter worth $27,000. Central Pacific Bank Trust Division purchased a new stake in The Descartes Systems Group during the first quarter valued at approximately $28,000. Accent Capital Management LLC bought a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $32,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares during the period. Finally, Park Place Capital Corp increased its position in shares of The Descartes Systems Group by 48.5% during the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.
The Descartes Systems Group Price Performance
Shares of DSGX stock traded up $1.45 during mid-day trading on Friday, hitting $96.61. The stock had a trading volume of 89,663 shares, compared to its average volume of 161,310. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $104.71. The firm’s 50-day moving average is $96.88 and its two-hundred day moving average is $93.49. The firm has a market capitalization of $8.25 billion, a P/E ratio of 67.97 and a beta of 0.98.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Stephens lifted their price objective on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. CIBC upped their price target on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Scotiabank raised their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 31st. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Redburn Atlantic assumed coverage on The Descartes Systems Group in a report on Tuesday, May 14th. They issued a “neutral” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.
View Our Latest Stock Analysis on DSGX
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.
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