Jennison Associates LLC Sells 2,933 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Jennison Associates LLC reduced its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,568 shares of the technology company’s stock after selling 2,933 shares during the period. Jennison Associates LLC’s holdings in The Descartes Systems Group were worth $27,788,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DSGX. Signaturefd LLC grew its holdings in The Descartes Systems Group by 26.7% in the third quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after purchasing an additional 147 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in The Descartes Systems Group by 4.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 6,529 shares of the technology company’s stock worth $541,000 after purchasing an additional 282 shares during the period. Federated Hermes Inc. grew its holdings in The Descartes Systems Group by 48.7% in the fourth quarter. Federated Hermes Inc. now owns 1,298 shares of the technology company’s stock worth $109,000 after purchasing an additional 425 shares during the period. Korea Investment CORP grew its holdings in The Descartes Systems Group by 2.4% in the third quarter. Korea Investment CORP now owns 18,480 shares of the technology company’s stock worth $1,363,000 after purchasing an additional 432 shares during the period. Finally, Operose Advisors LLC purchased a new stake in The Descartes Systems Group in the third quarter worth about $35,000. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Trading Up 0.4 %

DSGX opened at $94.50 on Thursday. The Descartes Systems Group Inc. has a 1-year low of $69.59 and a 1-year high of $96.04. The company has a market capitalization of $8.05 billion, a PE ratio of 70.52 and a beta of 0.94. The firm’s 50 day simple moving average is $89.95 and its two-hundred day simple moving average is $84.22.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.07. The Descartes Systems Group had a net margin of 20.23% and a return on equity of 9.80%. The business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. During the same period last year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Equities analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of recent research reports. BMO Capital Markets upped their price objective on shares of The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. StockNews.com upgraded shares of The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Barclays increased their price target on shares of The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a report on Tuesday, February 20th. William Blair reiterated an “outperform” rating on shares of The Descartes Systems Group in a report on Monday, April 1st. Finally, Stephens increased their price target on shares of The Descartes Systems Group from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $98.44.

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.