CIBC Asset Management Inc Grows Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

CIBC Asset Management Inc lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,809 shares of the technology company’s stock after purchasing an additional 8,733 shares during the period. CIBC Asset Management Inc owned about 0.14% of The Descartes Systems Group worth $11,601,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. TD Asset Management Inc lifted its position in shares of The Descartes Systems Group by 10.5% during the 4th quarter. TD Asset Management Inc now owns 772,483 shares of the technology company’s stock worth $65,201,000 after purchasing an additional 73,410 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of The Descartes Systems Group by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 169,541 shares of the technology company’s stock worth $15,517,000 after purchasing an additional 11,025 shares during the last quarter. Quadrature Capital Ltd lifted its position in The Descartes Systems Group by 13.6% in the fourth quarter. Quadrature Capital Ltd now owns 156,000 shares of the technology company’s stock valued at $13,131,000 after acquiring an additional 18,700 shares during the last quarter. Russell Investments Group Ltd. lifted its position in The Descartes Systems Group by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 262,615 shares of the technology company’s stock valued at $24,043,000 after acquiring an additional 8,722 shares during the last quarter. Finally, Zeno Equity Partners LLP acquired a new position in The Descartes Systems Group in the fourth quarter valued at $11,108,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several research reports. Royal Bank of Canada boosted their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 24th. CIBC upped their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Stephens upped their target price on The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. TD Securities upped their target price on The Descartes Systems Group from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Scotiabank upped their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

The Descartes Systems Group Trading Down 1.2 %

Shares of DSGX stock opened at $99.64 on Wednesday. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 71.17 and a beta of 0.98. The stock has a 50 day simple moving average of $99.06 and a 200-day simple moving average of $94.94. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $104.71.

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.