Mackenzie Financial Corp Cuts Stake in The Descartes Systems Group Inc. $DSGX

Mackenzie Financial Corp lessened its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,315,493 shares of the technology company’s stock after selling 629,264 shares during the period. Mackenzie Financial Corp owned approximately 3.86% of The Descartes Systems Group worth $312,114,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in The Descartes Systems Group during the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. raised its position in shares of The Descartes Systems Group by 77.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after acquiring an additional 248 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock worth $62,000 after purchasing an additional 131 shares during the period. Employees Retirement System of Texas bought a new position in The Descartes Systems Group in the second quarter worth about $68,000. Finally, GAMMA Investing LLC lifted its holdings in shares of The Descartes Systems Group by 42.1% in the 3rd quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after purchasing an additional 262 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Down 3.1%

Shares of DSGX stock opened at $70.01 on Wednesday. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 39.55 and a beta of 0.77. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $117.35. The stock’s fifty day simple moving average is $75.21 and its 200-day simple moving average is $86.59.

Analyst Ratings Changes

Several brokerages have recently issued reports on DSGX. Scotiabank reduced their price objective on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Friday, December 5th. Morgan Stanley upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a report on Thursday, January 15th. Zacks Research raised The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Royal Bank Of Canada set a $126.00 price target on The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.