Royal London Asset Management Ltd. Acquires New Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Royal London Asset Management Ltd. bought a new stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,725 shares of the technology company’s stock, valued at approximately $5,017,000. Royal London Asset Management Ltd. owned 0.06% of The Descartes Systems Group as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of The Descartes Systems Group by 52.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,474 shares of the technology company’s stock worth $1,014,000 after purchasing an additional 3,605 shares during the last quarter. Assenagon Asset Management S.A. increased its position in The Descartes Systems Group by 4.3% in the second quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after buying an additional 158 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of The Descartes Systems Group during the second quarter valued at $527,000. Portside Wealth Group LLC acquired a new stake in shares of The Descartes Systems Group in the 2nd quarter worth about $367,000. Finally, Cidel Asset Management Inc. lifted its position in The Descartes Systems Group by 19.1% in the 2nd quarter. Cidel Asset Management Inc. now owns 104,142 shares of the technology company’s stock valued at $10,088,000 after purchasing an additional 16,725 shares during the last quarter. 77.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the topic of several analyst reports. Royal Bank of Canada raised their price target on shares of 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. StockNews.com downgraded The Descartes Systems Group from a “buy” rating to a “hold” rating in a research note on Monday, December 2nd. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Scotiabank lifted 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 note on Wednesday, December 4th. Finally, National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $114.17.

The Descartes Systems Group Price Performance

DSGX stock opened at $121.37 on Monday. The firm has a market cap of $10.37 billion, a PE ratio of 76.33 and a beta of 0.98. The Descartes Systems Group Inc. has a 12 month low of $79.21 and a 12 month high of $122.22. The firm has a 50 day simple moving average of $109.73 and a 200 day simple moving average of $102.12.

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.