Connor Clark & Lunn Investment Management Ltd. Sells 138,362 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Connor Clark & Lunn Investment Management Ltd. reduced its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,912,395 shares of the technology company's stock after selling 138,362 shares during the period. The Descartes Systems Group comprises about 1.0% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 22nd biggest holding. Connor Clark & Lunn Investment Management Ltd. owned about 2.24% of The Descartes Systems Group worth $196,766,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Avior Wealth Management LLC raised its stake in shares of The Descartes Systems Group by 2.8% during the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company's stock worth $440,000 after buying an additional 117 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of The Descartes Systems Group by 3.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,771 shares of the technology company's stock worth $388,000 after purchasing an additional 137 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of The Descartes Systems Group by 4.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company's stock valued at $371,000 after purchasing an additional 158 shares during the period. Assetmark Inc. raised its stake 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 valued at $601,000 after acquiring an additional 197 shares in the last quarter. Finally, Park Place Capital Corp increased its position in shares of The Descartes Systems Group by 31.6% during the second quarter. Park Place Capital Corp now owns 883 shares of the technology company's stock valued at $86,000 after purchasing an additional 212 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Up 0.5 %

NASDAQ:DSGX traded up $0.52 during trading hours on Wednesday, reaching $114.13. 173,207 shares of the stock were exchanged, compared to its average volume of 152,900. The stock has a market capitalization of $9.75 billion, a P/E ratio of 76.76 and a beta of 0.97. The firm has a 50 day simple moving average of $105.58 and a 200-day simple moving average of $100.36. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $117.24.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. During the same period in the previous year, the firm posted $0.32 EPS. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on DSGX shares. Barclays raised The Descartes Systems Group from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $88.00 to $125.00 in a research note on Friday, November 15th. National Bank Financial upgraded The Descartes Systems Group to a "strong-buy" rating in a research note on Wednesday, September 25th. National Bankshares set a $125.00 target price on shares of The Descartes Systems Group and gave the company an "outperform" rating in a report on Thursday, September 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $115.00 price target on shares of The Descartes Systems Group in a report on Thursday, September 5th. Finally, BMO Capital Markets boosted their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a "market perform" rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $109.25.

The Descartes Systems Group Company 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.