Renaissance Technologies LLC Has $40.19 Million Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Renaissance Technologies LLC decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 353,800 shares of the technology company's stock after selling 15,900 shares during the period. Renaissance Technologies LLC owned approximately 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 also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings 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 worth $27,000 after acquiring an additional 181 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at about $43,000. Trust Co. of Vermont bought a new position in shares of The Descartes Systems Group during the 4th quarter valued at about $54,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of The Descartes Systems Group in the 4th quarter valued at approximately $57,000. Finally, GAMMA Investing LLC increased its stake in The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock worth $57,000 after purchasing an additional 495 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DSGX shares. Barclays reduced their price target 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. StockNews.com downgraded The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada restated an "outperform" rating and issued a $130.00 price target on shares of The Descartes Systems Group in a report on Friday, March 28th. Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a "buy" rating and a $140.00 target price on the stock. Finally, Stephens reduced their price target on 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. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

The Descartes Systems Group Stock Performance

NASDAQ:DSGX traded up $1.97 during mid-day trading on Tuesday, hitting $103.55. The stock had a trading volume of 250,546 shares, compared to its average volume of 208,132. The Descartes Systems Group Inc. has a twelve month low of $87.20 and a twelve month high of $124.31. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 65.13 and a beta of 0.97. The company's 50 day simple moving average is $105.78 and its 200 day simple moving average is $110.22.

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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. The company had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. As a group, equities analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

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.