Connor Clark & Lunn Investment Management Ltd. Sells 169,105 Shares of The Descartes Systems Group Inc. $DSGX

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,528,628 shares of the technology company’s stock after selling 169,105 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.78% of The Descartes Systems Group worth $155,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DSGX. Cullen Frost Bankers Inc. acquired a new stake in shares of The Descartes Systems Group in the 1st quarter valued at about $49,000. Parallel Advisors LLC grew its holdings in shares of The Descartes Systems Group by 35.1% during the second quarter. Parallel Advisors LLC now owns 585 shares of the technology company’s stock worth $59,000 after buying an additional 152 shares in the last quarter. GAMMA Investing LLC raised its position in The Descartes Systems Group by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 622 shares of the technology company’s stock valued at $63,000 after buying an additional 117 shares during the last quarter. Hilltop National Bank bought a new stake in The Descartes Systems Group in the 2nd quarter valued at approximately $215,000. Finally, Vident Advisory LLC bought a new stake in The Descartes Systems Group in the 1st quarter valued at approximately $220,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $84.36 on Friday. The company’s 50-day moving average is $96.91 and its 200-day moving average is $102.09. The firm has a market capitalization of $7.25 billion, a PE ratio of 49.92 and a beta of 0.75. The Descartes Systems Group Inc. has a fifty-two week low of $82.96 and a fifty-two week high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $178.98 million for the quarter, compared to the consensus estimate of $176.51 million. The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, analysts expect that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DSGX shares. Zacks Research raised shares of The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. TD Cowen reaffirmed a “buy” rating and issued a $121.00 target price on shares of The Descartes Systems Group in a research report on Friday, October 3rd. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an “equal weight” rating and a $110.00 price target on the stock. CIBC reduced their price objective on shares of The Descartes Systems Group from $127.00 to $126.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of The Descartes Systems Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and a consensus price target of $121.70.

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.