The Descartes Systems Group Inc. (NASDAQ:DSGX) Position Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,200 shares of the technology company’s stock after selling 63,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.43% of The Descartes Systems Group worth $35,463,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of The Descartes Systems Group during the 4th quarter valued at about $27,000. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the first quarter valued at approximately $28,000. Accent Capital Management LLC bought a new stake in The Descartes Systems Group in the fourth quarter worth approximately $32,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of The Descartes Systems Group by 703.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares during the last quarter. Finally, Park Place Capital Corp raised its holdings in shares of The Descartes Systems Group by 48.5% during the 1st quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock valued at $61,000 after purchasing an additional 219 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on DSGX. Canaccord Genuity Group set a $108.00 price objective on shares of The Descartes Systems Group and gave the stock a “buy” rating in a report on Thursday, September 5th. Raymond James increased their price objective on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a report on Friday, May 31st. BMO Capital Markets boosted their target price on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Finally, Stephens lifted their price target on shares of The Descartes Systems Group from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

The Descartes Systems Group Trading Up 1.1 %

Shares of DSGX stock opened at $100.17 on Thursday. The firm has a market capitalization of $8.55 billion, a P/E ratio of 71.55 and a beta of 0.98. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $104.71. The firm’s fifty day simple moving average is $98.88 and its 200 day simple moving average is $95.74.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.67 EPS for the current fiscal year.

The Descartes Systems Group Company 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.