Connor Clark & Lunn Investment Management Ltd. Cuts Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,901,311 shares of the technology company’s stock after selling 11,084 shares during the period. The Descartes Systems Group makes up 1.0% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 25th biggest position. Connor Clark & Lunn Investment Management Ltd. owned 2.22% of The Descartes Systems Group worth $215,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of DSGX. Mather Group LLC. boosted its stake in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of The Descartes Systems Group during the fourth quarter worth about $43,000. Trust Co. of Vermont acquired a new position in The Descartes Systems Group in the fourth quarter worth about $54,000. GAMMA Investing LLC increased its holdings in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after buying an additional 495 shares during the last quarter. Finally, Allworth Financial LP raised its stake in The Descartes Systems Group by 39.8% during 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 in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Trading Up 1.6 %

NASDAQ:DSGX opened at $97.92 on Wednesday. The company has a 50-day moving average of $113.62 and a 200-day moving average of $110.21. 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 price-to-earnings ratio of 61.58 and a beta of 0.99.

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

Wall Street Analyst Weigh In

DSGX has been the subject of a number of research analyst reports. Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price target for the company. StockNews.com downgraded shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BMO Capital Markets decreased their target price on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Stephens lowered their price target on shares of The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Royal Bank of Canada cut their target price on The Descartes Systems Group from $133.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.33.

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.