JPMorgan Chase & Co. Sells 78,756 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

JPMorgan Chase & Co. reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 55.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,098 shares of the technology company’s stock after selling 78,756 shares during the quarter. JPMorgan Chase & Co. owned about 0.07% of The Descartes Systems Group worth $6,497,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI grew its position 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 worth $71,911,000 after buying an additional 556,408 shares during the period. American Century Companies Inc. grew its holdings in The Descartes Systems Group by 65.4% in the second 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 period. Mackenzie Financial Corp increased its stake in 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. Envestnet Asset Management Inc. raised its holdings in shares of The Descartes Systems Group by 53.2% during the second quarter. Envestnet Asset Management Inc. now owns 250,665 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 86,998 shares during the period. Finally, Fiera Capital Corp raised its holdings in shares of The Descartes Systems Group by 3.3% during the second quarter. Fiera Capital Corp now owns 2,558,831 shares of the technology company’s stock valued at $248,024,000 after purchasing an additional 81,263 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Up 2.2 %

The Descartes Systems Group stock opened at $114.97 on Thursday. The Descartes Systems Group Inc. has a 52 week low of $82.88 and a 52 week high of $122.88. The company’s 50 day moving average price is $115.47 and its two-hundred day moving average price is $106.11. The stock has a market cap of $9.83 billion, a P/E ratio of 72.31 and a beta of 0.99.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada boosted their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 29th. Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price objective for the company. TD Securities upped their target price on 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. 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. Finally, Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $88.00 to $125.00 in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.92.

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.