Connor Clark & Lunn Investment Management Ltd. Has $215.85 Million Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,901,311 shares of the technology company’s stock after selling 11,084 shares during the period. The Descartes Systems Group accounts for approximately 1.0% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 25th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Descartes Systems Group were worth $215,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in The Descartes Systems Group by 14.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock worth $96,000 after acquiring an additional 108 shares in the last quarter. AGF Management Ltd. lifted its position in shares of The Descartes Systems Group by 3.9% in the fourth quarter. AGF Management Ltd. now owns 102,947 shares of the technology company’s stock worth $11,702,000 after buying an additional 3,861 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of The Descartes Systems Group by 17.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,585 shares of the technology company’s stock worth $6,088,000 after acquiring an additional 8,130 shares in the last quarter. Amundi increased its holdings in shares of The Descartes Systems Group by 21.4% during the 4th quarter. Amundi now owns 55,042 shares of the technology company’s stock valued at $6,228,000 after acquiring an additional 9,684 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of The Descartes Systems Group by 20.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 77,582 shares of the technology company’s stock valued at $9,165,000 after acquiring an additional 13,002 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $97.92 on Wednesday. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The firm has a market cap of $8.38 billion, a P/E ratio of 61.58 and a beta of 0.99. The firm’s 50-day simple moving average is $113.62 and its 200-day simple moving average is $110.21.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on DSGX. TD Securities upped their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital initiated coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. BMO Capital Markets lowered their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Barclays cut their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Finally, Stephens dropped their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and a consensus target price of $120.33.

The Descartes Systems Group 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.