Sanctuary Advisors LLC Makes New Investment in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Sanctuary Advisors LLC bought a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,519 shares of the technology company’s stock, valued at approximately $465,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its holdings in The Descartes Systems Group by 10.3% in the 2nd quarter. Whittier Trust Co. now owns 8,515 shares of the technology company’s stock worth $825,000 after purchasing an additional 794 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake 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 buying an additional 704 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in The Descartes Systems Group by 224.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,822 shares of the technology company’s stock worth $4,536,000 after buying an additional 32,406 shares during the period. Principal Financial Group Inc. boosted its position in The Descartes Systems Group by 12.4% during the 2nd quarter. Principal Financial Group Inc. now owns 274,103 shares of the technology company’s stock valued at $26,552,000 after acquiring an additional 30,303 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of The Descartes Systems Group by 42.7% in the 2nd quarter. Signaturefd LLC now owns 2,164 shares of the technology company’s stock worth $210,000 after acquiring an additional 648 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 0.6 %

Shares of DSGX stock opened at $115.00 on Friday. The stock has a market capitalization of $9.83 billion, a P/E ratio of 72.33 and a beta of 0.98. The firm’s 50 day moving average is $113.44 and its 200 day moving average is $104.14. The Descartes Systems Group Inc. has a 12-month low of $79.21 and a 12-month high of $122.88.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Securities upped their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Loop Capital began coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. Scotiabank lifted their price target on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. Finally, National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average price target of $116.15.

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.