Renaissance Technologies LLC Trims Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Renaissance Technologies LLC reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 353,800 shares of the technology company's stock after selling 15,900 shares during the period. Renaissance Technologies LLC owned 0.41% of The Descartes Systems Group worth $40,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of The Descartes Systems Group in the 4th quarter worth approximately $126,918,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 purchasing an additional 639,848 shares in the last quarter. Franklin Resources Inc. grew its stake in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock worth $192,502,000 after buying an additional 326,643 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of The Descartes Systems Group by 104.5% in the fourth quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company's stock worth $48,819,000 after acquiring an additional 219,736 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of The Descartes Systems Group during the 4th quarter worth approximately $19,392,000. 77.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DSGX has been the subject of several research analyst reports. Scotiabank upped their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a research note on Wednesday, March 26th. StockNews.com cut The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stephens decreased their target price on shares of 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a research report on Friday, March 28th. Finally, Loop Capital started coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

The Descartes Systems Group Trading Down 0.3 %

DSGX stock traded down $0.31 during mid-day trading on Wednesday, hitting $103.27. 50,835 shares of the company were exchanged, compared to its average volume of 207,774. The business has a 50 day simple moving average of $105.78 and a 200-day simple moving average of $110.22. The stock has a market capitalization of $8.84 billion, a PE ratio of 64.95 and a beta of 0.97. The Descartes Systems Group Inc. has a 1-year low of $88.44 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced 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 business had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. Equities research analysts expect 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.