The Descartes Systems Group Inc. $DSGX Stock Position Reduced by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 44.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 846,414 shares of the technology company’s stock after selling 682,214 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Descartes Systems Group were worth $79,679,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DSGX. Ritholtz Wealth Management grew its holdings in shares of The Descartes Systems Group by 1.7% during the 3rd quarter. Ritholtz Wealth Management now owns 6,654 shares of the technology company’s stock valued at $627,000 after acquiring an additional 114 shares in the last quarter. AXA S.A. raised its holdings in shares of The Descartes Systems Group by 2.0% during the second quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock worth $681,000 after acquiring an additional 130 shares in the last quarter. Versant Capital Management Inc boosted its position in The Descartes Systems Group by 24.8% during the third quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after purchasing an additional 131 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in The Descartes Systems Group by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 3,616 shares of the technology company’s stock valued at $368,000 after purchasing an additional 143 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. grew its stake in The Descartes Systems Group by 0.3% in the third quarter. PCJ Investment Counsel Ltd. now owns 48,080 shares of the technology company’s stock valued at $4,529,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

DSGX has been the topic of several research reports. Morgan Stanley raised The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. TD Securities upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $106.00 to $105.00 in a research report on Monday, January 12th. Finally, Raymond James Financial upgraded shares of The Descartes Systems Group from a “market perform” rating to an “outperform” rating and set a $118.00 target price for the company in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Buy” and an average price target of $114.20.

The Descartes Systems Group Price Performance

NASDAQ DSGX opened at $69.10 on Thursday. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $117.35. The stock’s 50-day moving average is $74.84 and its two-hundred day moving average is $86.47. The firm has a market cap of $5.94 billion, a P/E ratio of 39.04 and a beta of 0.77.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 11th. The technology company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $192.37 million for the quarter, compared to the consensus estimate of $188.09 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. On average, equities analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.