Millennium Management LLC Sells 10,831 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Millennium Management LLC cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,788 shares of the technology company’s stock after selling 10,831 shares during the period. Millennium Management LLC owned about 0.12% of The Descartes Systems Group worth $9,567,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DSGX. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the 1st quarter valued at $28,000. Accent Capital Management LLC bought a new position in shares of The Descartes Systems Group in the 4th quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock valued at $45,000 after acquiring an additional 429 shares during the last quarter. Park Place Capital Corp raised its holdings in The Descartes Systems Group by 48.5% during the first quarter. Park Place Capital Corp now owns 671 shares of the technology company’s stock worth $61,000 after acquiring an additional 219 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new position in The Descartes Systems Group during the second quarter valued at approximately $61,000. Institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Barclays upped their price target on shares of The Descartes Systems Group from $87.00 to $88.00 and gave the stock an “underweight” rating in a research report on Thursday, September 5th. National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, National Bankshares set a $125.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.83.

The Descartes Systems Group Trading Up 1.8 %

NASDAQ:DSGX opened at $102.05 on Wednesday. The stock has a 50 day simple moving average of $99.37 and a 200 day simple moving average of $96.81. The stock has a market cap of $8.71 billion, a P/E ratio of 72.89 and a beta of 0.97. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $105.12.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $163.43 million for the quarter, compared to analyst estimates of $160.17 million. During the same period in the prior year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.67 EPS for the current 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.