Dixon Mitchell Investment Counsel Inc. Increases Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Dixon Mitchell Investment Counsel boosted its stake in The Descartes Systems Group by 303% in Q3, buying an additional 255,154 shares to hold 339,370 shares worth about $31.96 million, making DSGX its 28th largest position and 1.1% of the fund’s portfolio.
• Other large institutional moves include new positions by Norges Bank (~$117.7M) and Temasek (~$91.2M) and big increases from CIBC and Westfield, leaving institutional ownership at 77.73%.
• Analysts are broadly positive with an average rating of "Buy" and a $114.20 average price target, while DSGX trades near $72.26 with a $6.22B market cap and a 52‑week range of $62.56–$117.35.

Dixon Mitchell Investment Counsel Inc. boosted its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 303.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 339,370 shares of the technology company's stock after purchasing an additional 255,154 shares during the period. The Descartes Systems Group comprises 1.1% of Dixon Mitchell Investment Counsel Inc.'s portfolio, making the stock its 28th largest position. Dixon Mitchell Investment Counsel Inc. owned 0.39% of The Descartes Systems Group worth $31,961,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of The Descartes Systems Group in the 2nd quarter valued at approximately $117,678,000. Temasek Holdings Private Ltd acquired a new stake in shares of The Descartes Systems Group during the second quarter worth approximately $91,155,000. CIBC Asset Management Inc increased its stake in shares of The Descartes Systems Group by 275.4% in the second quarter. CIBC Asset Management Inc now owns 835,599 shares of the technology company's stock worth $85,085,000 after buying an additional 613,009 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in The Descartes Systems Group in the second quarter valued at $48,378,000. Finally, Westfield Capital Management Co. LP grew its holdings in The Descartes Systems Group by 54.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company's stock worth $94,355,000 after acquiring an additional 351,700 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on DSGX shares. Zacks Research raised shares of The Descartes Systems Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 16th. Barclays upgraded The Descartes Systems Group from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $106.00 to $105.00 in a research report on Monday, January 12th. Raymond James Financial upgraded 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 report on Thursday, December 4th. Weiss Ratings restated a "hold (c)" rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. Finally, Scotiabank lowered their target price on shares of The Descartes Systems Group from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, The Descartes Systems Group currently has an average rating of "Buy" and an average price target of $114.20.

The Descartes Systems Group Stock Up 0.7%

DSGX stock opened at $72.26 on Tuesday. The stock has a market cap of $6.22 billion, a PE ratio of 40.83 and a beta of 0.77. The firm's 50-day simple moving average is $75.57 and its 200 day simple moving average is $86.81. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $117.35.

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.

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