Alliancebernstein L.P. Has $18.46 Million Stock Position in The Descartes Systems Group Inc. $DSGX

Key Points

• Alliancebernstein L.P. reduced its stake in The Descartes Systems Group Inc. by 6.5%, now owning approximately 183,077 shares valued at $18.46 million.
• Several institutional investors have increased their holdings in The Descartes Systems Group, with Mackenzie Financial Corp raising its stake by 130.4% to own nearly 4.95 million shares worth approximately $561.83 million.
• The company recently reported a missed earnings estimate of $0.43 per share, falling short of the forecasted $0.49, despite revenue increasing by 10% year-over-year.

Alliancebernstein L.P. trimmed its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,077 shares of the technology company's stock after selling 12,680 shares during the quarter. Alliancebernstein L.P. owned about 0.21% of The Descartes Systems Group worth $18,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of DSGX. Mackenzie Financial Corp lifted its stake in shares of The Descartes Systems Group by 130.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after buying an additional 2,800,492 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in The Descartes Systems Group by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,134,467 shares of the technology company's stock worth $719,370,000 after acquiring an additional 936,718 shares during the period. Praesidium Investment Management Company LLC bought a new position in The Descartes Systems Group during the fourth quarter worth $54,724,000. Nuveen LLC bought a new position in The Descartes Systems Group during the first quarter worth $21,074,000. Finally, Fiera Capital Corp increased its position in The Descartes Systems Group by 8.0% during the first quarter. Fiera Capital Corp now owns 2,745,848 shares of the technology company's stock worth $276,705,000 after acquiring an additional 202,973 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Stock Performance

DSGX opened at $105.88 on Thursday. The firm's 50-day simple moving average is $102.76 and its 200-day simple moving average is $104.05. The Descartes Systems Group Inc. has a twelve month low of $92.00 and a twelve month high of $124.31. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 62.65 and a beta of 0.80.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The firm had revenue of $178.98 million during the quarter, compared to the consensus estimate of $176.51 million. During the same period in the previous year, the company posted $0.40 EPS. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Thursday, June 5th. Wall Street Zen raised shares of The Descartes Systems Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They set an "equal weight" rating and a $110.00 target price on the stock. Barclays dropped their target price on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. Finally, Zacks Research raised shares of The Descartes Systems Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $123.60.

The Descartes Systems Group Company 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.

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