Verition Fund Management LLC Invests $313,000 in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Verition Fund Management LLC acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the third quarter, Holdings Channel reports. The firm acquired 3,042 shares of the technology company’s stock, valued at approximately $313,000.

Several other large investors also recently added to or reduced their stakes in the stock. Intact Investment Management Inc. bought a new stake in shares of The Descartes Systems Group during the second quarter valued at approximately $61,000. Blue Trust Inc. increased its holdings in The Descartes Systems Group by 931.7% during the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden bought a new stake in The Descartes Systems Group during the 2nd quarter valued at $77,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of The Descartes Systems Group by 143.7% in the 2nd 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 during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of The Descartes Systems Group by 28.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,256 shares of the technology company’s stock worth $122,000 after buying an additional 279 shares in the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DSGX. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Thursday, September 26th. TD Securities lifted their price objective 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. Scotiabank upped their target price on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $88.00 to $125.00 in a research report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.17.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $119.73 on Friday. The firm has a market capitalization of $10.23 billion, a P/E ratio of 75.30 and a beta of 0.98. The business’s 50-day moving average is $111.56 and its 200 day moving average is $102.79. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $122.88.

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.