Alliancebernstein L.P. Cuts Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Alliancebernstein L.P. lowered its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 21.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 195,757 shares of the technology company's stock after selling 54,835 shares during the period. Alliancebernstein L.P. owned approximately 0.23% of The Descartes Systems Group worth $22,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in The Descartes Systems Group by 14.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 847 shares of the technology company's stock valued at $96,000 after purchasing an additional 108 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company's stock worth $77,000 after acquiring an additional 182 shares during the last quarter. Northwest & Ethical Investments L.P. grew its position in 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 worth $2,677,000 after acquiring an additional 222 shares in the last quarter. Finally, Barclays PLC increased its stake in The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company's stock valued at $1,031,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

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The Descartes Systems Group Stock Up 1.0 %

Shares of NASDAQ:DSGX traded up $0.99 on Friday, hitting $101.74. The company had a trading volume of 321,479 shares, compared to its average volume of 207,672. The firm's 50-day simple moving average is $106.10 and its two-hundred day simple moving average is $110.18. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 63.99 and a beta of 0.97. The Descartes Systems Group Inc. has a 1 year low of $87.20 and a 1 year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Scotiabank lifted their price target on The Descartes Systems Group from $125.00 to $127.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, March 26th. CIBC cut their target price on The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Stephens decreased their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday. StockNews.com cut shares of The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Barclays reduced their price target on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Descartes Systems Group currently has an average rating of "Moderate Buy" and an average price target of $119.50.

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.