Jennison Associates LLC Decreases Stock Position in The Descartes Systems Group Inc. $DSGX

Jennison Associates LLC lessened its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,415 shares of the technology company’s stock after selling 7,507 shares during the quarter. Jennison Associates LLC owned about 0.14% of The Descartes Systems Group worth $11,833,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DSGX. Bank of New York Mellon Corp boosted its holdings in The Descartes Systems Group by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 128,335 shares of the technology company’s stock worth $12,940,000 after acquiring an additional 3,316 shares during the period. M&T Bank Corp purchased a new position in shares of The Descartes Systems Group during the 1st quarter valued at approximately $1,321,000. Genus Capital Management Inc. boosted its stake in shares of The Descartes Systems Group by 208.8% during the 1st quarter. Genus Capital Management Inc. now owns 59,209 shares of the technology company’s stock valued at $5,960,000 after buying an additional 113,653 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of The Descartes Systems Group by 25.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 626,632 shares of the technology company’s stock valued at $63,183,000 after buying an additional 125,146 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of The Descartes Systems Group by 12.4% during the 1st quarter. Whittier Trust Co. now owns 15,746 shares of the technology company’s stock valued at $1,588,000 after buying an additional 1,740 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Trading Down 1.4%

DSGX stock opened at $88.18 on Friday. The firm has a market cap of $7.58 billion, a P/E ratio of 52.18 and a beta of 0.77. The Descartes Systems Group Inc. has a 12-month low of $87.58 and a 12-month high of $124.31. The stock’s 50 day simple moving average is $98.32 and its 200 day simple moving average is $102.67.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a net margin of 21.64% and a return on equity of 10.41%. The firm had revenue of $178.98 million for the quarter, compared to analyst estimates of $176.51 million. During the same period in the prior year, the company posted $0.40 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. On average, research analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DSGX shares. TD Securities started coverage on The Descartes Systems Group in a research note on Friday, October 3rd. They set a “buy” rating and a $121.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Descartes Systems Group in a research note on Wednesday, October 8th. Morgan Stanley started coverage on The Descartes Systems Group in a research note on Monday, July 14th. They set an “equal weight” rating and a $110.00 target price for the company. Zacks Research upgraded The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group has an average rating of “Moderate Buy” and an average price target of $121.70.

About The Descartes Systems Group

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.