Cubist Systematic Strategies LLC Trims Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Cubist Systematic Strategies LLC reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 54.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,920 shares of the technology company's stock after selling 5,874 shares during the period. Cubist Systematic Strategies LLC's holdings in The Descartes Systems Group were worth $559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in shares of The Descartes Systems Group by 14.9% in the 4th quarter. Cetera Investment Advisers now owns 4,454 shares of the technology company's stock valued at $506,000 after purchasing an additional 576 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in The Descartes Systems Group during the 4th quarter valued at approximately $973,000. Bank of America Corp DE raised its stake in The Descartes Systems Group by 25.4% during the 4th quarter. Bank of America Corp DE now owns 284,790 shares of the technology company's stock valued at $32,352,000 after acquiring an additional 57,720 shares during the last quarter. BNP Paribas Financial Markets raised its stake in The Descartes Systems Group by 107.0% during the 4th quarter. BNP Paribas Financial Markets now owns 18,613 shares of the technology company's stock valued at $2,114,000 after acquiring an additional 9,620 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in The Descartes Systems Group by 332.7% during the 4th quarter. Jane Street Group LLC now owns 57,512 shares of the technology company's stock valued at $6,533,000 after acquiring an additional 44,222 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $112.76 on Friday. The company has a market cap of $9.65 billion, a P/E ratio of 70.92 and a beta of 0.88. The Descartes Systems Group Inc. has a one year low of $89.00 and a one year high of $124.31. The business's 50-day simple moving average is $103.06 and its 200 day simple moving average is $110.47.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. Analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DSGX shares. CIBC dropped their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Royal Bank of Canada restated an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. Stephens lowered their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets decreased their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Finally, Barclays decreased their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.

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.

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