The Descartes Systems Group Inc. $DSGX Shares Sold by Alliancebernstein L.P.

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. lowered its position in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,077 shares of the technology company's stock after selling 12,680 shares during the period. 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 & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DSGX. Northern Trust Corp lifted its position in The Descartes Systems Group by 11.8% in the fourth quarter. Northern Trust Corp now owns 80,737 shares of the technology company's stock valued at $9,172,000 after purchasing an additional 8,537 shares during the period. BNP Paribas Financial Markets lifted its position in The Descartes Systems Group by 107.0% in the fourth quarter. BNP Paribas Financial Markets now owns 18,613 shares of the technology company's stock valued at $2,114,000 after purchasing an additional 9,620 shares during the period. Bank of America Corp DE lifted its position in shares of The Descartes Systems Group by 25.4% during the 4th quarter. Bank of America Corp DE now owns 284,790 shares of the technology company's stock valued at $32,352,000 after acquiring an additional 57,720 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of The Descartes Systems Group during the 4th quarter worth approximately $973,000. Finally, Cetera Investment Advisers grew its holdings in shares of The Descartes Systems Group by 14.9% in the 4th quarter. Cetera Investment Advisers now owns 4,454 shares of the technology company's stock worth $506,000 after acquiring an additional 576 shares during the period. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Down 0.7%

Shares of NASDAQ:DSGX traded down $0.70 during trading on Tuesday, reaching $101.86. The stock had a trading volume of 347,276 shares, compared to its average volume of 474,599. The business has a fifty day moving average price of $102.85 and a 200-day moving average price of $103.80. The stock has a market cap of $8.75 billion, a P/E ratio of 60.27 and a beta of 0.80. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31.

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

Analyst Upgrades and Downgrades

DSGX has been the subject of several research reports. Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday, July 14th. They set an "equal weight" rating and a $110.00 price objective for the company. Barclays cut their price target on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note 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 note on Friday, September 5th. Royal Bank Of Canada cut their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research report on Thursday, June 5th. Finally, Zacks Research upgraded 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 given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $123.60.

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.