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

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in DSGX. Mackenzie Financial Corp lifted its position in shares of The Descartes Systems Group by 130.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,947,789 shares of the technology company's stock valued at $561,827,000 after acquiring an additional 2,800,492 shares in the last quarter. Norges Bank purchased a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $126,918,000. Arrowstreet Capital Limited Partnership lifted its position 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 in the last quarter. Praesidium Investment Management Company LLC purchased a new stake in shares of The Descartes Systems Group in the 4th quarter valued at approximately $54,724,000. Finally, Franklin Resources Inc. lifted its position in shares of The Descartes Systems Group by 23.9% in 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 in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on DSGX. Stephens cut 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 research report on Wednesday, April 9th. Scotiabank increased their target price on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, March 26th. Morgan Stanley initiated coverage on shares of The Descartes Systems Group in a research report on Monday, July 14th. They issued an "equal weight" rating and a $110.00 target price for the company. Barclays dropped their price target 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 note on Thursday, June 5th. Finally, Royal Bank Of Canada dropped 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 research note on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.18.

The Descartes Systems Group Price Performance

Shares of The Descartes Systems Group stock opened at $105.09 on Monday. The Descartes Systems Group Inc. has a fifty-two week low of $90.61 and a fifty-two week high of $124.31. The firm has a fifty day moving average price of $106.07 and a two-hundred day moving average price of $107.41. The company has a market cap of $9.01 billion, a PE ratio of 63.31 and a beta of 0.82.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The company had revenue of $168.74 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Analysts expect that The Descartes Systems Group Inc. will post 1.64 earnings per share 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.

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