Jennison Associates LLC Sells 106,466 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Jennison Associates LLC reduced its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 38.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 172,213 shares of the technology company’s stock after selling 106,466 shares during the quarter. Jennison Associates LLC’s holdings in The Descartes Systems Group were worth $17,731,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of The Descartes Systems Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 3,137,637 shares of the technology company’s stock worth $287,188,000 after buying an additional 40,897 shares during the period. O Shaughnessy Asset Management LLC lifted its position in The Descartes Systems Group by 7.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 18,649 shares of the technology company’s stock worth $1,707,000 after acquiring an additional 1,294 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of The Descartes Systems Group by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 1,200 shares of the technology company’s stock worth $110,000 after acquiring an additional 600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of The Descartes Systems Group in the first quarter valued at approximately $204,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of The Descartes Systems Group by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after purchasing an additional 278,796 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Canaccord Genuity Group set a $108.00 price objective on The Descartes Systems Group and gave the company a “buy” rating in a report on Thursday, September 5th. Scotiabank upped their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Barclays upgraded shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Finally, BMO Capital Markets lifted their price target on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

The Descartes Systems Group Stock Up 1.5 %

NASDAQ:DSGX opened at $116.08 on Friday. The Descartes Systems Group Inc. has a twelve month low of $79.21 and a twelve month high of $117.24. The stock’s 50-day simple moving average is $106.25 and its 200 day simple moving average is $100.55. The firm has a market capitalization of $9.92 billion, a PE ratio of 78.43 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, analysts anticipate that The Descartes Systems Group Inc. will post 1.69 EPS 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.