Lord Abbett & CO. LLC Raises Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Lord Abbett & CO. LLC lifted its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 672,897 shares of the technology company’s stock after buying an additional 72,501 shares during the period. Lord Abbett & CO. LLC’s holdings in The Descartes Systems Group were worth $69,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. National Bank of Canada FI boosted its stake 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 in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at about $20,608,000. Triasima Portfolio Management inc. boosted its position in shares of The Descartes Systems Group by 90.1% in the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after purchasing an additional 120,325 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of The Descartes Systems Group in the 2nd quarter valued at about $10,503,000. Finally, American Century Companies Inc. grew its stake in The Descartes Systems Group by 65.4% during the 2nd quarter. American Century Companies Inc. now owns 243,985 shares of the technology company’s stock worth $23,640,000 after buying an additional 96,431 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DSGX shares. TD Securities boosted their price objective on The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada increased their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the company a “buy” rating in a research note on Thursday, September 5th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $114.17.

The Descartes Systems Group Stock Down 1.2 %

NASDAQ DSGX opened at $119.73 on Friday. The stock has a market capitalization of $10.23 billion, a P/E ratio of 75.30 and a beta of 0.98. 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 $111.56 and a 200 day moving average price of $102.82.

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.