Jennison Associates LLC Has $27.79 Million Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Jennison Associates LLC reduced its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.9% during the 4th quarter, according to its most recent 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 quarter. Jennison Associates LLC owned approximately 0.39% of The Descartes Systems Group worth $27,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Operose Advisors LLC acquired a new position in The Descartes Systems Group during the 3rd quarter worth $35,000. Signaturefd LLC lifted its holdings in The Descartes Systems Group by 26.7% during the 3rd quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after buying an additional 147 shares in the last quarter. Federated Hermes Inc. acquired a new position in The Descartes Systems Group during the 3rd quarter worth $64,000. SG Americas Securities LLC acquired a new position in The Descartes Systems Group during the 4th quarter worth $209,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in The Descartes Systems Group by 19.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock worth $228,000 after buying an additional 500 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DSGX has been the topic of a number of analyst reports. Barclays increased their price target on The Descartes Systems Group from $71.00 to $75.00 and gave the company an “underweight” rating in a research note on Tuesday, February 20th. BMO Capital Markets increased their price target on The Descartes Systems Group from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. StockNews.com raised The Descartes Systems Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. CIBC raised The Descartes Systems Group from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $96.50 to $101.00 in a research note on Tuesday, April 16th. Finally, Wolfe Research raised The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.44.

The Descartes Systems Group Trading Up 0.4 %

DSGX stock opened at $94.50 on Thursday. The stock has a 50-day moving average price of $89.95 and a two-hundred day moving average price of $84.22. The stock has a market cap of $8.05 billion, a PE ratio of 70.52 and a beta of 0.94. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $96.04.

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

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.