Addenda Capital Inc. Reduces Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Addenda Capital Inc. lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.8% in the fourth quarter, HoldingsChannel reports. The firm owned 203,840 shares of the technology company’s stock after selling 10,360 shares during the period. The Descartes Systems Group comprises about 1.1% of Addenda Capital Inc.’s portfolio, making the stock its 27th largest holding. Addenda Capital Inc.’s holdings in The Descartes Systems Group were worth $23,156,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DSGX. Ellsworth Advisors LLC boosted its stake in shares of The Descartes Systems Group by 7.3% during the 4th quarter. Ellsworth Advisors LLC now owns 6,167 shares of the technology company’s stock valued at $701,000 after buying an additional 419 shares during the last quarter. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group in the fourth quarter valued at $54,000. Canoe Financial LP bought a new position in The Descartes Systems Group during the 4th quarter valued at $7,939,000. Avanza Fonder AB bought a new position in The Descartes Systems Group during the 4th quarter valued at $118,000. Finally, Argent Capital Management LLC grew its holdings in The Descartes Systems Group by 15.3% during the 4th quarter. Argent Capital Management LLC now owns 58,410 shares of the technology company’s stock worth $6,635,000 after acquiring an additional 7,729 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 0.7 %

NASDAQ DSGX opened at $115.85 on Tuesday. The company has a 50-day moving average price of $115.53 and a two-hundred day moving average price of $106.52. The Descartes Systems Group Inc. has a 52 week low of $84.11 and a 52 week high of $122.88. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 72.86 and a beta of 0.99.

Analyst Upgrades and Downgrades

DSGX has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, November 29th. National Bankshares set a $125.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $88.00 to $125.00 in a report on Friday, November 15th. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.