Millennium Management LLC Sells 148,609 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Millennium Management LLC cut its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 54.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,817 shares of the technology company's stock after selling 148,609 shares during the period. Millennium Management LLC owned approximately 0.14% of The Descartes Systems Group worth $14,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in The Descartes Systems Group in the 4th quarter valued at about $126,918,000. Arrowstreet Capital Limited Partnership increased its position in The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after buying an additional 639,848 shares in the last quarter. Franklin Resources Inc. increased its position in The Descartes Systems Group by 23.9% in the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after buying an additional 326,643 shares in the last quarter. Vontobel Holding Ltd. increased its position in The Descartes Systems Group by 104.5% in the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company's stock valued at $48,819,000 after buying an additional 219,736 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in The Descartes Systems Group in the 4th quarter valued at about $19,392,000. 77.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DSGX shares. CIBC decreased their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Scotiabank boosted their target price on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research report on Wednesday, March 26th. 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 report on Thursday, March 6th. Stephens decreased their target price on The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $114.20 on Friday. The stock has a 50 day moving average price of $104.52 and a two-hundred day moving average price of $110.72. The firm has a market capitalization of $9.78 billion, a P/E ratio of 71.82 and a beta of 0.88. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31.

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 earnings per share 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 firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. On average, 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 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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