Renaissance Technologies LLC Has $57.16 Million Stake in The Descartes Systems Group Inc. $DSGX

Renaissance Technologies LLC raised its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 798,844 shares of the technology company’s stock after acquiring an additional 125,900 shares during the quarter. Renaissance Technologies LLC’s holdings in The Descartes Systems Group were worth $57,165,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in DSGX. Sei Investments Co. raised its position in shares of The Descartes Systems Group by 16.1% during the first quarter. Sei Investments Co. now owns 151,893 shares of the technology company’s stock valued at $10,869,000 after buying an additional 21,079 shares during the last quarter. Walleye Capital LLC grew its position in The Descartes Systems Group by 1,011.9% during the first quarter. Walleye Capital LLC now owns 128,723 shares of the technology company’s stock worth $9,211,000 after buying an additional 117,146 shares in the last quarter. State of Wyoming increased its stake in The Descartes Systems Group by 12.3% during the first quarter. State of Wyoming now owns 4,550 shares of the technology company’s stock valued at $325,000 after acquiring an additional 500 shares during the period. First Trust Advisors LP increased its stake in The Descartes Systems Group by 14.7% during the first quarter. First Trust Advisors LP now owns 10,049 shares of the technology company’s stock valued at $719,000 after acquiring an additional 1,285 shares during the period. Finally, Oslo Pensjonsforsikring AS bought a new position in The Descartes Systems Group during the first quarter valued at about $93,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings upgraded The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce boosted their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a research report on Thursday, June 4th. Rothschild & Co Redburn upgraded The Descartes Systems Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $100.00 to $90.00 in a research note on Thursday, April 16th. National Bank Financial set a $95.00 target price on The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. Finally, Raymond James Financial decreased their price target on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Price Performance

DSGX stock opened at $68.18 on Monday. The business has a fifty day moving average price of $71.69 and a 200 day moving average price of $72.30. The Descartes Systems Group Inc. has a fifty-two week low of $62.56 and a fifty-two week high of $109.00. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 34.09 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts expect that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.