Connor Clark & Lunn Investment Management Ltd. Sells 11,084 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,901,311 shares of the technology company's stock after selling 11,084 shares during the period. The Descartes Systems Group comprises 1.0% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 25th largest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 2.22% of The Descartes Systems Group worth $215,851,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of The Descartes Systems Group by 14.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after acquiring an additional 108 shares in the last quarter. Avior Wealth Management LLC raised its stake in The Descartes Systems Group by 2.8% in the third quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company's stock valued at $440,000 after purchasing an additional 117 shares in the last quarter. Mather Group LLC. lifted its position in The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Allworth Financial LP grew its stake in The Descartes Systems Group by 39.8% in the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock worth $77,000 after buying an additional 182 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of The Descartes Systems Group by 3.5% in the 3rd quarter. Assetmark Inc. now owns 5,839 shares of the technology company's stock worth $601,000 after buying an additional 197 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

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The Descartes Systems Group Price Performance

DSGX traded down $2.52 during midday trading on Thursday, reaching $97.19. 366,587 shares of the company's stock traded hands, compared to its average volume of 187,032. The Descartes Systems Group Inc. has a 52 week low of $87.20 and a 52 week high of $124.31. The firm has a fifty day moving average of $113.35 and a two-hundred day moving average of $110.14. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 61.13 and a beta of 0.99.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on DSGX. Barclays dropped 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 report on Thursday, March 6th. Stephens cut their price objective on The Descartes Systems Group from $145.00 to $137.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. BMO Capital Markets reduced 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 research report on Thursday, March 6th. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Loop Capital began coverage on shares of The Descartes Systems Group in a report on Tuesday, December 17th. They issued a "buy" rating and a $140.00 price objective for the company. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $120.33.

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.