Millennium Management LLC Trims Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Millennium Management LLC lessened its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 54.6% during the 4th quarter, according to its most recent disclosure with the SEC. 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 about 0.14% of The Descartes Systems Group worth $14,066,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in The Descartes Systems Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock worth $375,047,000 after acquiring an additional 54,341 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in The Descartes Systems Group by 6.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock worth $200,716,000 after acquiring an additional 101,290 shares in the last quarter. Franklin Resources Inc. raised its holdings in The Descartes Systems Group by 23.9% during the fourth quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after acquiring an additional 326,643 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in The Descartes Systems Group by 114.4% in the fourth 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 during the period. Finally, Norges Bank acquired a new stake in The Descartes Systems Group during the 4th quarter worth approximately $126,918,000. Institutional investors own 77.73% of the company's stock.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded down $0.99 during trading hours on Wednesday, reaching $115.94. 19,894 shares of the stock traded hands, compared to its average volume of 209,295. The stock has a 50 day simple moving average of $105.47 and a two-hundred day simple moving average of $110.78. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 72.93 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. On average, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on DSGX shares. Scotiabank lifted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a report on Wednesday, March 26th. Royal Bank of Canada reissued an "outperform" rating and set a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. BMO Capital Markets cut their price objective on shares of 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. Wall Street Zen cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Barclays cut their price objective on shares of The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating for the company in a research report on Thursday, March 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. Based on data from MarketBeat, The Descartes Systems Group currently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

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.