The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Holdings Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 665,134 shares of the technology company’s stock after purchasing an additional 102,208 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in The Descartes Systems Group were worth $75,498,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in shares of The Descartes Systems Group by 389.8% during the 3rd quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after buying an additional 556,408 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of The Descartes Systems Group by 12.1% during the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after acquiring an additional 72,501 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of The Descartes Systems Group by 52.5% during the third quarter. Vontobel Holding Ltd. now owns 210,280 shares of the technology company’s stock worth $21,636,000 after acquiring an additional 72,435 shares in the last quarter. Canoe Financial LP purchased a new position in The Descartes Systems Group in the fourth quarter valued at about $7,939,000. Finally, DF Dent & Co. Inc. increased its position in The Descartes Systems Group by 27.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 279,675 shares of the technology company’s stock worth $28,795,000 after purchasing an additional 61,080 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DSGX. Loop Capital assumed coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Scotiabank raised their price objective 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. TD Securities boosted their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. BMO Capital Markets raised their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $114.05 on Thursday. The Descartes Systems Group Inc. has a 52 week low of $84.12 and a 52 week high of $124.31. The firm has a market capitalization of $9.76 billion, a PE ratio of 71.73 and a beta of 0.99. The business’s 50-day simple moving average is $116.40 and its 200-day simple moving average is $108.57.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same period in the prior year, the company earned $0.31 earnings per share. Research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

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.