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

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,912,395 shares of the technology company’s stock after selling 138,362 shares during the quarter. The Descartes Systems Group comprises approximately 1.0% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 22nd largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Descartes Systems Group were worth $196,766,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Intact Investment Management Inc. bought a new position in The Descartes Systems Group during the 2nd quarter worth approximately $61,000. Blue Trust Inc. raised its holdings in The Descartes Systems Group by 931.7% in the third quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock worth $63,000 after purchasing an additional 587 shares during the period. Andra AP fonden bought a new position in shares of The Descartes Systems Group during the second quarter worth $77,000. Park Place Capital Corp grew its holdings in shares of The Descartes Systems Group by 31.6% in the 2nd quarter. Park Place Capital Corp now owns 883 shares of the technology company’s stock valued at $86,000 after buying an additional 212 shares during the period. Finally, UniSuper Management Pty Ltd increased its position in shares of The Descartes Systems Group by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,200 shares of the technology company’s stock valued at $110,000 after buying an additional 600 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DSGX has been the topic of several recent analyst reports. Barclays upgraded The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $88.00 to $125.00 in a report on Friday, November 15th. National Bank Financial upgraded The Descartes Systems Group to a “strong-buy” rating in a report on Wednesday, September 25th. Scotiabank increased their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a report on Thursday, September 5th. Finally, Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $113.61 on Wednesday. The company’s 50-day moving average price is $105.58 and its two-hundred day moving average price is $100.36. The Descartes Systems Group Inc. has a one year low of $79.21 and a one year high of $117.24. The stock has a market capitalization of $9.71 billion, a PE ratio of 76.76 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results 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 company had revenue of $163.43 million for the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a return on equity of 10.21% and a net margin of 21.02%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

The Descartes Systems Group 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.