Mackenzie Financial Corp Has $312.11 Million Holdings in The Descartes Systems Group Inc. $DSGX

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

Several other institutional investors have also recently bought and sold shares of the business. Ritholtz Wealth Management raised its holdings in shares of The Descartes Systems Group by 1.7% in the third quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock valued at $627,000 after buying an additional 114 shares during the last quarter. AXA S.A. boosted its stake in The Descartes Systems Group by 2.0% in the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after acquiring an additional 130 shares during the last quarter. Versant Capital Management Inc grew its stake 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. Orion Porfolio Solutions LLC grew its position in shares of The Descartes Systems Group by 4.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock worth $368,000 after buying an additional 143 shares during the period. Finally, Wealth Alliance LLC increased its stake in The Descartes Systems Group by 7.1% in the second quarter. Wealth Alliance LLC now owns 2,461 shares of the technology company’s stock valued at $250,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $70.01 on Wednesday. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $117.35. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 39.55 and a beta of 0.77. The firm’s 50-day moving average is $75.21 and its 200-day moving average is $86.59.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of The Descartes Systems Group in a report on Monday, December 29th. Royal Bank Of Canada set a $126.00 price target on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, December 1st. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Zacks Research upgraded The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Raymond James Financial raised The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Buy” and an average 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.