The Descartes Systems Group Inc. $DSGX Stock Position Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 44.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 846,414 shares of the technology company’s stock after selling 682,214 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.98% of The Descartes Systems Group worth $79,679,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in The Descartes Systems Group by 35.1% in the first quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after acquiring an additional 98,054 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Descartes Systems Group by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after purchasing an additional 660 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of The Descartes Systems Group by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,175 shares of the technology company’s stock worth $13,130,000 after purchasing an additional 840 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of The Descartes Systems Group by 11.8% in the 2nd quarter. Metis Global Partners LLC now owns 3,267 shares of the technology company’s stock worth $332,000 after purchasing an additional 345 shares during the last quarter. Finally, Aviva PLC raised its holdings in shares of The Descartes Systems Group by 8.5% in the 2nd quarter. Aviva PLC now owns 60,356 shares of the technology company’s stock worth $6,130,000 after purchasing an additional 4,709 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DSGX has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of The Descartes Systems Group in a research report on Monday, December 29th. Scotiabank reduced their price objective on 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. Raymond James Financial upgraded The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Thursday, December 4th. Finally, Barclays upgraded The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $106.00 to $105.00 in a report on Monday, January 12th. Two equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $114.20.

The Descartes Systems Group Trading Down 1.3%

NASDAQ:DSGX opened at $69.10 on Thursday. The business’s fifty day moving average price is $74.84 and its 200 day moving average price is $86.47. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 39.04 and a beta of 0.77. The Descartes Systems Group Inc. has a 1-year low of $62.56 and a 1-year high of $117.35.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings data on Wednesday, March 11th. The technology company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business had revenue of $192.37 million for the quarter, compared to analyst estimates of $188.09 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The company’s revenue was up 15.1% compared to the same quarter last year. Equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

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.