Renaissance Technologies LLC decreased its stake in Descartes Systems Group Inc (NASDAQ:DSGX) (TSE:DSG) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 579,600 shares of the technology company’s stock after selling 48,000 shares during the quarter. Renaissance Technologies LLC owned about 0.75% of Descartes Systems Group worth $18,837,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Conestoga Capital Advisors LLC boosted its holdings in shares of Descartes Systems Group by 5.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,920,720 shares of the technology company’s stock worth $94,923,000 after purchasing an additional 158,740 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Descartes Systems Group by 76.3% in the 2nd quarter. Janus Henderson Group PLC now owns 2,014,123 shares of the technology company’s stock worth $65,527,000 after purchasing an additional 871,960 shares during the period. Fiera Capital Corp boosted its holdings in shares of Descartes Systems Group by 1.7% in the 1st quarter. Fiera Capital Corp now owns 1,378,476 shares of the technology company’s stock worth $39,339,000 after purchasing an additional 23,507 shares during the period. Addenda Capital Inc. boosted its holdings in shares of Descartes Systems Group by 96.8% in the 2nd quarter. Addenda Capital Inc. now owns 911,426 shares of the technology company’s stock worth $27,822,000 after purchasing an additional 448,258 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of Descartes Systems Group in the 1st quarter worth approximately $16,300,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Shares of DSGX stock opened at $34.20 on Wednesday. Descartes Systems Group Inc has a 52-week low of $24.85 and a 52-week high of $35.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $2.64 billion, a P/E ratio of 92.84 and a beta of 0.41.

Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, September 5th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. Descartes Systems Group had a return on equity of 5.66% and a net margin of 10.92%. The firm had revenue of $67.10 million during the quarter, compared to analyst estimates of $67.70 million. During the same period last year, the company earned $0.09 EPS. Descartes Systems Group’s quarterly revenue was up 17.1% compared to the same quarter last year. research analysts expect that Descartes Systems Group Inc will post 0.45 EPS for the current year.

DSGX has been the subject of a number of recent research reports. Canaccord Genuity lifted their target price on Descartes Systems Group from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Barclays lifted their target price on Descartes Systems Group from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, May 31st. TD Securities lifted their target price on Descartes Systems Group from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Morgan Stanley lifted their target price on Descartes Systems Group from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, June 1st. Finally, Zacks Investment Research cut Descartes Systems Group from a “hold” rating to a “sell” rating in a report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.17.

About Descartes Systems Group

The Descartes Systems Group Inc provides federated network and logistics technology solutions worldwide. Its Logistics Application Suite offers a range of modular, cloud-based, and interoperable Web and wireless logistics management applications. The company's Logistics Application Suite offers solutions, such as route planning and execution, mobile applications, and telematics and compliance; transportation management solutions comprising carrier compliance and rate management, freight audit and settlement, dock scheduling and yard management, pool distribution, transportation planning and execution, and logistics flow control, as well as visibility, tracking, and performance management; and global logistics network services, such as document management, community, and connectivity services.

Further Reading: Earnings Per Share (EPS)

Institutional Ownership by Quarter for Descartes Systems Group (NASDAQ:DSGX)

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