Renaissance Technologies LLC Has $40.19 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Renaissance Technologies LLC lowered its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 353,800 shares of the technology company’s stock after selling 15,900 shares during the quarter. Renaissance Technologies LLC owned about 0.41% of The Descartes Systems Group worth $40,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DSGX. EverSource Wealth Advisors LLC grew its stake 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 valued at $96,000 after purchasing an additional 108 shares in the last quarter. Mather Group LLC. boosted its position in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Allworth Financial LP increased its stake in shares of The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock valued at $77,000 after buying an additional 182 shares during the period. Northwest & Ethical Investments L.P. increased its holdings in The Descartes Systems Group by 1.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock valued at $2,677,000 after purchasing an additional 222 shares during the period. Finally, Barclays PLC raised its holdings in The Descartes Systems Group by 2.8% during the 3rd quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays decreased their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of The Descartes Systems Group in a research note on Friday, March 28th. Loop Capital assumed coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Stephens cut their price objective on shares of The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.50.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $100.75 on Friday. The company has a market cap of $8.62 billion, a PE ratio of 63.36 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $87.20 and a 1 year high of $124.31. The stock’s 50 day simple moving average is $106.38 and its two-hundred day simple moving average is $110.19.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $169.97 million. Equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

About The Descartes Systems Group

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.