Two Sigma Advisers LP Has $11.36 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Two Sigma Advisers LP decreased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the technology company’s stock after selling 9,000 shares during the period. Two Sigma Advisers LP owned 0.12% of The Descartes Systems Group worth $11,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DSGX. Norges Bank acquired a new position in The Descartes Systems Group during the 4th quarter worth about $126,918,000. Arrowstreet Capital Limited Partnership lifted its position in The Descartes Systems Group by 114.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company’s stock worth $136,175,000 after buying an additional 639,848 shares in the last quarter. Praesidium Investment Management Company LLC acquired a new position in The Descartes Systems Group during the 4th quarter worth about $54,724,000. Franklin Resources Inc. lifted its position in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company’s stock worth $192,502,000 after buying an additional 326,643 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in The Descartes Systems Group by 104.5% during the 4th quarter. Vontobel Holding Ltd. now owns 430,016 shares of the technology company’s stock worth $48,819,000 after buying an additional 219,736 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

DSGX has been the topic of several research reports. Barclays reduced their price target on shares of The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Wall Street Zen cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. BMO Capital Markets dropped their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Scotiabank raised their price objective on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research note on Wednesday, March 26th. Finally, CIBC reduced their price objective on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Four investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.18.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $114.20 on Friday. The Descartes Systems Group Inc. has a 52-week low of $89.00 and a 52-week high of $124.31. The stock has a market cap of $9.78 billion, a PE ratio of 71.82 and a beta of 0.88. The firm’s 50 day moving average price is $104.52 and its two-hundred day moving average price is $110.72.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, sell-side analysts predict that The Descartes Systems Group Inc. will post 1.64 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.