Lord Abbett & CO. LLC Has $74.72 Million Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Lord Abbett & CO. LLC trimmed its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 657,712 shares of the technology company’s stock after selling 15,185 shares during the period. Lord Abbett & CO. LLC’s holdings in The Descartes Systems Group were worth $74,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of The Descartes Systems Group by 14.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company’s stock valued at $96,000 after acquiring an additional 108 shares during the last quarter. GeoWealth Management LLC raised its position in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. Mather Group LLC. boosted its stake in shares of The Descartes Systems Group by 301.7% during the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Allworth Financial LP grew its holdings in shares of The Descartes Systems Group by 39.8% during the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after purchasing an additional 182 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its stake in shares of The Descartes Systems Group by 1.0% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 23,583 shares of the technology company’s stock valued at $2,677,000 after buying an additional 222 shares during the period. Institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. CIBC cut their target price 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 restated an “outperform” rating and set a $130.00 price objective on shares of The Descartes Systems Group in a research report on Friday, March 28th. Stephens reduced their target price on The Descartes Systems Group from $137.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, Scotiabank raised their price target on shares of The Descartes Systems Group from $125.00 to $127.00 and gave the stock a “sector outperform” rating in a report on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Descartes Systems Group has an average rating of “Moderate Buy” and a consensus target price of $119.50.

The Descartes Systems Group Stock Up 2.4 %

Shares of The Descartes Systems Group stock opened at $105.70 on Friday. The Descartes Systems Group Inc. has a 52 week low of $89.00 and a 52 week high of $124.31. The business has a 50 day moving average price of $103.32 and a 200-day moving average price of $110.16. The company has a market cap of $9.05 billion, a PE ratio of 66.48 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. The Descartes Systems Group had a net margin of 21.80% and a return on equity of 10.65%. As a group, research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current 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.