Alberta Investment Management Corp Purchases 18,200 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Alberta Investment Management Corp lifted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 21.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,687 shares of the technology company’s stock after purchasing an additional 18,200 shares during the period. Alberta Investment Management Corp owned about 0.12% of The Descartes Systems Group worth $11,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in The Descartes Systems Group by 389.8% in the third quarter. National Bank of Canada FI now owns 699,157 shares of the technology company’s stock valued at $71,911,000 after acquiring an additional 556,408 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in The Descartes Systems Group by 104.5% in the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock valued at $48,819,000 after acquiring an additional 219,736 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in The Descartes Systems Group by 18.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock valued at $75,498,000 after acquiring an additional 102,208 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in The Descartes Systems Group by 12.1% in the third quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock valued at $69,282,000 after acquiring an additional 72,501 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in The Descartes Systems Group in the fourth quarter valued at approximately $7,939,000. 77.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Stephens upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Saturday, February 1st. Royal Bank of Canada upped their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. TD Securities increased their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $88.00 to $125.00 in a report on Friday, November 15th. Finally, BMO Capital Markets increased their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.92.

The Descartes Systems Group Stock Down 0.1 %

Shares of NASDAQ:DSGX opened at $114.73 on Thursday. The Descartes Systems Group Inc. has a twelve month low of $84.12 and a twelve month high of $124.31. The stock’s 50 day moving average is $115.99 and its 200-day moving average is $109.13. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 72.16 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the business earned $0.31 EPS. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal 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.