Geode Capital Management LLC Purchases 46,523 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Geode Capital Management LLC grew its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 479,681 shares of the technology company’s stock after acquiring an additional 46,523 shares during the quarter. Geode Capital Management LLC’s holdings in The Descartes Systems Group were worth $50,277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DSGX. Intact Investment Management Inc. purchased a new stake in The Descartes Systems Group during the second quarter valued at $61,000. Blue Trust Inc. raised its position in shares of The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after buying an additional 587 shares in the last quarter. Andra AP fonden bought a new position in shares of The Descartes Systems Group in the 2nd quarter valued at about $77,000. Whittier Trust Co. of Nevada Inc. grew its position in The Descartes Systems Group by 143.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,194 shares of the technology company’s stock worth $116,000 after acquiring an additional 704 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position 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 worth $122,000 after acquiring an additional 279 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $114.52 on Monday. The stock has a 50 day moving average price of $112.87 and a 200 day moving average price of $103.73. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 72.03 and a beta of 0.98. The Descartes Systems Group Inc. has a 52-week low of $79.21 and a 52-week high of $122.88.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on 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. National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, TD Securities upped their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.15.

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.