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

Renaissance Technologies LLC increased its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 18.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,844 shares of the technology company’s stock after acquiring an additional 125,900 shares during the period. Renaissance Technologies LLC owned about 0.93% of The Descartes Systems Group worth $57,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DSGX. Goldman Sachs Group Inc. increased its position in The Descartes Systems Group by 35.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 377,140 shares of the technology company’s stock worth $38,027,000 after purchasing an additional 98,054 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of The Descartes Systems Group by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 54,618 shares of the technology company’s stock valued at $5,507,000 after buying an additional 660 shares during the last quarter. Amundi lifted its holdings in shares of The Descartes Systems Group by 74.5% during the 2nd quarter. Amundi now owns 82,319 shares of the technology company’s stock valued at $8,360,000 after buying an additional 35,132 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of The Descartes Systems Group by 25.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,246 shares of the technology company’s stock valued at $127,000 after buying an additional 254 shares in the last quarter. Finally, AXA S.A. grew its stake in shares of The Descartes Systems Group by 2.0% in the 2nd quarter. AXA S.A. now owns 6,702 shares of the technology company’s stock valued at $681,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DSGX. Raymond James Financial cut their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. National Bank Financial set a $95.00 target price on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research report on Monday, July 20th. Rothschild & Co Redburn upgraded shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $100.00 to $90.00 in a research note on Thursday, April 16th. Weiss Ratings raised shares of The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Finally, Loop Capital reiterated a “buy” rating and issued a $96.00 price objective on shares of The Descartes Systems Group in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.54.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX opened at $68.18 on Monday. The stock’s 50-day moving average is $71.69 and its 200-day moving average is $72.30. The company has a market cap of $5.84 billion, a P/E ratio of 34.09 and a beta of 0.64. The Descartes Systems Group Inc. has a 52-week low of $62.56 and a 52-week high of $109.00.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $166.96 million during the quarter, compared to the consensus estimate of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 2.37 EPS for the current 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.