Public Employees Retirement System of Ohio Buys New Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Public Employees Retirement System of Ohio bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,123 shares of the technology company’s stock, valued at approximately $1,558,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DSGX. Intact Investment Management Inc. bought a new stake in The Descartes Systems Group in the second quarter valued at about $61,000. Blue Trust Inc. boosted its position in The Descartes Systems Group by 931.7% in the third 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 acquired a new position in The Descartes Systems Group in the second quarter valued at about $77,000. Whittier Trust Co. of Nevada Inc. boosted 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 valued at $116,000 after buying an additional 704 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted 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 valued at $122,000 after buying an additional 279 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of NASDAQ DSGX opened at $114.85 on Thursday. The Descartes Systems Group Inc. has a 52-week low of $79.21 and a 52-week high of $122.88. The firm has a 50 day moving average price of $112.29 and a two-hundred day moving average price of $103.24. The stock has a market cap of $9.81 billion, a P/E ratio of 72.23 and a beta of 0.98.

Analysts Set New Price Targets

DSGX has been the topic of a number of recent analyst reports. Barclays upgraded shares of 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 research report on Friday, November 15th. TD Securities boosted 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 research report on Wednesday, December 4th. StockNews.com lowered shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Royal Bank of Canada upped their target price 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. Finally, Scotiabank upped their target price on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.