Stifel Financial Corp Sells 1,342 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Stifel Financial Corp reduced its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 15,842 shares of the technology company’s stock after selling 1,342 shares during the period. Stifel Financial Corp’s holdings in The Descartes Systems Group were worth $1,631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Conestoga Capital Advisors LLC lifted its position in The Descartes Systems Group by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 3,168,594 shares of the technology company’s stock worth $326,238,000 after buying an additional 52,485 shares in the last quarter. Fiera Capital Corp increased its position in shares of The Descartes Systems Group by 0.8% in the third quarter. Fiera Capital Corp now owns 2,578,648 shares of the technology company’s stock valued at $265,692,000 after acquiring an additional 19,817 shares during the last quarter. Mackenzie Financial Corp raised its holdings in The Descartes Systems Group by 4.5% during the second quarter. Mackenzie Financial Corp now owns 2,134,228 shares of the technology company’s stock worth $206,807,000 after acquiring an additional 91,301 shares in the last quarter. Bank of Montreal Can boosted its position in The Descartes Systems Group by 1.4% during the second quarter. Bank of Montreal Can now owns 1,545,027 shares of the technology company’s stock valued at $147,434,000 after purchasing an additional 21,105 shares during the last quarter. Finally, Geneva Capital Management LLC grew its stake in The Descartes Systems Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,476,659 shares of the technology company’s stock valued at $152,037,000 after purchasing an additional 19,002 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $114.52 on Friday. The company’s 50 day moving average price is $112.87 and its two-hundred day moving average price is $103.56. The firm has a market capitalization of $9.79 billion, a P/E ratio of 72.03 and a beta of 0.98. The Descartes Systems Group Inc. has a fifty-two week low of $79.21 and a fifty-two week high of $122.88.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DSGX shares. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. BMO Capital Markets boosted their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. TD Securities upped their target price on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Loop Capital began coverage on The Descartes Systems Group in a report on Tuesday. They set a “buy” rating and a $140.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, November 29th. Five analysts have rated the stock with a hold rating, ten 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 stock currently has an average rating of “Moderate Buy” and an average target price of $116.15.

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.