Jennison Associates LLC lessened its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 38.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,213 shares of the technology company's stock after selling 106,466 shares during the quarter. Jennison Associates LLC owned about 0.20% of The Descartes Systems Group worth $17,731,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. PCJ Investment Counsel Ltd. grew its stake in shares of The Descartes Systems Group by 40.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 29,540 shares of the technology company's stock valued at $3,041,000 after purchasing an additional 8,460 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in The Descartes Systems Group by 1.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 438,553 shares of the technology company's stock worth $45,153,000 after buying an additional 5,608 shares in the last quarter. Avior Wealth Management LLC boosted its position in The Descartes Systems Group by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,273 shares of the technology company's stock valued at $440,000 after buying an additional 117 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of The Descartes Systems Group by 1.8% in the 3rd quarter. Pathstone Holdings LLC now owns 53,434 shares of the technology company's stock valued at $5,502,000 after buying an additional 934 shares during the period. Finally, Swiss National Bank raised its position in shares of The Descartes Systems Group by 1.1% during the third quarter. Swiss National Bank now owns 258,324 shares of the technology company's stock worth $26,624,000 after acquiring an additional 2,700 shares during the last quarter. 77.73% of the stock is owned by institutional investors.
Shares of DSGX stock opened at $116.08 on Friday. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $117.24. The company's 50 day moving average price is $106.25 and its two-hundred day moving average price is $100.55. The company has a market capitalization of $9.92 billion, a P/E ratio of 78.43 and a beta of 0.97.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to the consensus estimate of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company's revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. Analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current year.
DSGX has been the subject of a number of research reports. StockNews.com upgraded The Descartes Systems Group from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Scotiabank increased their price objective on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a "sector outperform" rating in a report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a "market perform" rating in a research report on Thursday, September 5th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the stock a "buy" rating in a research report on Thursday, September 5th. Finally, National Bank Financial upgraded The Descartes Systems Group to a "strong-buy" rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.25.
Read Our Latest Stock Analysis on 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.
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