Hillsdale Investment Management Inc. Acquires 77,060 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Hillsdale Investment Management Inc. lifted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 192,650.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,100 shares of the technology company’s stock after buying an additional 77,060 shares during the period. Hillsdale Investment Management Inc. owned about 0.09% of The Descartes Systems Group worth $8,754,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DSGX. National Bank of Canada FI boosted its stake 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 purchasing an additional 556,408 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of The Descartes Systems Group by 104.5% during the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after purchasing an additional 219,736 shares during the period. Raymond James Financial Inc. purchased a new position in shares of The Descartes Systems Group during the 4th quarter worth about $19,392,000. Allspring Global Investments Holdings LLC boosted its stake in shares of The Descartes Systems Group by 18.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 665,134 shares of the technology company’s stock worth $75,498,000 after purchasing an additional 102,208 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of The Descartes Systems Group by 12.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 672,897 shares of the technology company’s stock worth $69,282,000 after purchasing an additional 72,501 shares during the period. 77.73% of the stock is currently owned by institutional investors.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX opened at $101.15 on Friday. The Descartes Systems Group Inc. has a one year low of $87.20 and a one year high of $124.31. The firm has a market cap of $8.66 billion, a P/E ratio of 63.62 and a beta of 0.99. The firm has a 50-day simple moving average of $111.47 and a 200-day simple moving average of $110.03.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. On average, research analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada dropped their price target on shares of The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. TD Securities lifted their price target on shares of The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Scotiabank boosted 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 research report on Wednesday, December 4th. CIBC lowered their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, BMO Capital Markets lowered their price objective on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Five 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.33.

The Descartes Systems Group 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.