The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Position Lowered by MML Investors Services LLC

MML Investors Services LLC trimmed its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,611 shares of the technology company’s stock after selling 311 shares during the period. MML Investors Services LLC’s holdings in The Descartes Systems Group were worth $475,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC boosted its position in shares of The Descartes Systems Group by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after buying an additional 52,485 shares during the period. Fiera Capital Corp grew its stake in The Descartes Systems Group by 0.8% during the 3rd quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after acquiring an additional 19,817 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of The Descartes Systems Group by 4.5% in the 2nd quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock valued at $206,807,000 after purchasing an additional 91,301 shares during the period. Bank of Montreal Can lifted its position in shares of The Descartes Systems Group by 1.4% in the second quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock worth $147,434,000 after purchasing an additional 21,105 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its position in shares of The Descartes Systems Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock worth $152,037,000 after purchasing an additional 19,002 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Loop Capital initiated coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective on the stock. Royal Bank of Canada increased their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. BMO Capital Markets upped their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Scotiabank lifted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Descartes Systems Group presently has an average rating of “Moderate Buy” and a consensus price target of $116.15.

The Descartes Systems Group Price Performance

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