Hilltop National Bank Reduces Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Hilltop National Bank reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,604 shares of the technology company’s stock after selling 126 shares during the quarter. Hilltop National Bank’s holdings in The Descartes Systems Group were worth $182,000 at the end of the most recent quarter.

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

The Descartes Systems Group Price Performance

DSGX stock opened at $111.37 on Friday. The firm has a market capitalization of $9.52 billion, a P/E ratio of 70.04 and a beta of 0.99. The business’s 50-day moving average is $115.15 and its two-hundred day moving average is $105.57. The Descartes Systems Group Inc. has a 1 year low of $81.97 and a 1 year high of $122.88.

Wall Street Analysts Forecast Growth

DSGX has been the subject of a number of research analyst reports. Scotiabank increased their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. StockNews.com upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Tuesday. Loop Capital assumed coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price for the company. Barclays upgraded 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 report on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, November 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average target price of $117.92.

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.