Millennium Management LLC Cuts Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Millennium Management LLC lessened its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 54.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,817 shares of the technology company’s stock after selling 148,609 shares during the period. Millennium Management LLC’s holdings in The Descartes Systems Group were worth $14,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. boosted its stake in shares of The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. GeoWealth Management LLC lifted its stake in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in The Descartes Systems Group in the fourth quarter valued at approximately $43,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in The Descartes Systems Group in the fourth quarter valued at approximately $57,000. Finally, Optiver Holding B.V. purchased a new position in The Descartes Systems Group in the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets dropped their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Scotiabank upped their price objective on 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. CIBC dropped their price objective on 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. Stephens dropped their price objective on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays dropped their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.18.

The Descartes Systems Group Price Performance

Shares of DSGX stock opened at $114.20 on Friday. The company’s fifty day simple moving average is $104.52 and its two-hundred day simple moving average is $110.72. The Descartes Systems Group Inc. has a 1 year low of $89.00 and a 1 year high of $124.31. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 71.82 and a beta of 0.88.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The business 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%. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.