Pembroke Management LTD Cuts Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Pembroke Management LTD trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,984 shares of the technology company’s stock after selling 4,232 shares during the period. The Descartes Systems Group comprises about 1.7% of Pembroke Management LTD’s investment portfolio, making the stock its 26th biggest position. Pembroke Management LTD’s holdings in The Descartes Systems Group were worth $12,200,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Central Pacific Bank Trust Division bought a new position in shares of The Descartes Systems Group during the first quarter worth $28,000. Brown Brothers Harriman & Co. bought a new stake in The Descartes Systems Group in the 4th quarter valued at $27,000. Accent Capital Management LLC bought a new stake in The Descartes Systems Group in the 4th quarter valued at $32,000. Whittier Trust Co. of Nevada Inc. increased its holdings in The Descartes Systems Group by 703.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after acquiring an additional 429 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in The Descartes Systems Group in the 2nd quarter valued at $61,000. Institutional investors own 77.73% of the company’s stock.

Analyst Ratings Changes

DSGX has been the topic of a number of research reports. CIBC lifted their price target on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Royal Bank of Canada lifted their price target on shares of The Descartes Systems Group from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Scotiabank lifted their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. BMO Capital Markets lifted their price objective on shares of The Descartes Systems Group from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Thursday, May 30th. Finally, Barclays lifted their price objective on shares of The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.00.

The Descartes Systems Group Trading Up 1.0 %

Shares of DSGX stock traded up $0.99 during trading hours on Monday, reaching $100.89. 118,900 shares of the stock were exchanged, compared to its average volume of 156,839. The Descartes Systems Group Inc. has a 12-month low of $69.59 and a 12-month high of $104.71. The company’s 50-day moving average price is $98.84 and its 200-day moving average price is $94.76. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 72.06 and a beta of 0.98.

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.