Lord Abbett & CO. LLC Sells 15,185 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Lord Abbett & CO. LLC reduced its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 657,712 shares of the technology company's stock after selling 15,185 shares during the quarter. Lord Abbett & CO. LLC owned 0.77% of The Descartes Systems Group worth $74,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of The Descartes Systems Group during the 4th quarter valued at $43,000. Jane Street Group LLC boosted its holdings in The Descartes Systems Group by 20.4% in the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company's stock worth $1,368,000 after purchasing an additional 2,250 shares in the last quarter. Barclays PLC increased its position in The Descartes Systems Group by 2.8% during the third quarter. Barclays PLC now owns 10,008 shares of the technology company's stock worth $1,031,000 after buying an additional 270 shares during the last quarter. Geode Capital Management LLC raised its holdings in The Descartes Systems Group by 23.0% during the fourth quarter. Geode Capital Management LLC now owns 590,010 shares of the technology company's stock valued at $67,934,000 after buying an additional 110,329 shares in the last quarter. Finally, Canoe Financial LP acquired a new stake in shares of The Descartes Systems Group in the fourth quarter worth about $7,939,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Stock Down 0.8 %

Shares of DSGX stock traded down $0.90 during mid-day trading on Wednesday, reaching $105.05. The stock had a trading volume of 87,082 shares, compared to its average volume of 202,966. The firm's 50 day simple moving average is $102.80 and its 200 day simple moving average is $110.24. The Descartes Systems Group Inc. has a one year low of $89.00 and a one year high of $124.31. The firm has a market cap of $8.99 billion, a PE ratio of 66.07 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The company had revenue of $167.50 million during the quarter, compared to the consensus estimate of $169.97 million. Sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DSGX has been the topic of a number of analyst reports. Scotiabank increased their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a "sector outperform" rating in a report on Wednesday, March 26th. CIBC lowered their price objective on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada reissued an "outperform" rating and set a $130.00 price objective on shares of The Descartes Systems Group in a report on Friday, March 28th. Barclays lowered their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Finally, BMO Capital Markets lowered their price objective on The Descartes Systems Group from $120.00 to $113.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Five investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

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.