Central Pacific Bank Trust Division Reduces Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Central Pacific Bank Trust Division lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 28.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 350 shares of the technology company’s stock after selling 136 shares during the period. Central Pacific Bank Trust Division’s holdings in The Descartes Systems Group were worth $40,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in shares of 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 worth $71,911,000 after buying an additional 556,408 shares in the last quarter. William Blair Investment Management LLC purchased a new position in The Descartes Systems Group in the 2nd quarter worth approximately $20,608,000. Triasima Portfolio Management inc. boosted its holdings in shares of The Descartes Systems Group by 90.1% during the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock worth $24,584,000 after purchasing an additional 120,325 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 purchasing an additional 96,431 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of The Descartes Systems Group by 4.5% in the second 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 in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DSGX shares. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $88.00 to $125.00 in a research note on Friday, November 15th. Scotiabank upped 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 report on Wednesday, December 4th. Royal Bank of Canada lifted 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 note on Friday, November 29th. BMO Capital Markets increased 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 research note on Wednesday, December 4th. Finally, National Bankshares set a $125.00 price target on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research report on Thursday, September 26th. Five equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.15.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $113.90 on Monday. The firm has a market capitalization of $9.73 billion, a PE ratio of 71.64 and a beta of 0.99. The Descartes Systems Group Inc. has a 1 year low of $79.21 and a 1 year high of $122.88. The firm’s 50-day moving average is $114.57 and its two-hundred day moving average is $105.12.

About The Descartes Systems Group

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.