The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 29.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 123,922 shares of the technology company's stock after selling 51,493 shares during the quarter. Jennison Associates LLC owned about 0.14% of The Descartes Systems Group worth $12,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DSGX. Mackenzie Financial Corp lifted its holdings in shares of The Descartes Systems Group by 130.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock worth $561,827,000 after purchasing an additional 2,800,492 shares during the period. Vanguard Group Inc. raised its position in The Descartes Systems Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,299,323 shares of the technology company's stock worth $375,047,000 after buying an additional 54,341 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in The Descartes Systems Group by 6.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,766,861 shares of the technology company's stock valued at $200,716,000 after acquiring an additional 101,290 shares during the period. Franklin Resources Inc. lifted its stake in The Descartes Systems Group by 23.9% during the 4th quarter. Franklin Resources Inc. now owns 1,694,589 shares of the technology company's stock valued at $192,502,000 after acquiring an additional 326,643 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of The Descartes Systems Group by 114.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,199,377 shares of the technology company's stock valued at $136,175,000 after acquiring an additional 639,848 shares during the last quarter. 77.73% of the stock is owned by hedge funds and other institutional investors.

The Descartes Systems Group Price Performance

NASDAQ DSGX traded up $0.90 during mid-day trading on Thursday, hitting $106.45. The stock had a trading volume of 362,993 shares, compared to its average volume of 443,730. The firm's 50 day moving average is $105.43 and its 200 day moving average is $107.26. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 64.13 and a beta of 0.82. The Descartes Systems Group Inc. has a twelve month low of $90.61 and a twelve month high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its earnings results on Wednesday, June 4th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The business had revenue of $168.74 million during the quarter, compared to analyst estimates of $169.60 million. The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The Descartes Systems Group's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities research analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stephens reduced their target price on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Royal Bank Of Canada lowered their price target on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Scotiabank lifted 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. Morgan Stanley initiated coverage on The Descartes Systems Group in a report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective for the company. Finally, Barclays lowered their target price on The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $122.18.

About The Descartes Systems Group

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.