The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 175,415 shares of the technology company's stock after acquiring an additional 3,202 shares during the period. Jennison Associates LLC owned 0.21% of The Descartes Systems Group worth $19,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Greenleaf Trust purchased a new position in The Descartes Systems Group during the fourth quarter worth about $206,000. Hantz Financial Services Inc. raised its position in shares of The Descartes Systems Group by 0.4% during the 4th quarter. Hantz Financial Services Inc. now owns 105,827 shares of the technology company's stock valued at $12,022,000 after buying an additional 430 shares during the period. Forsta AP Fonden acquired a new position in The Descartes Systems Group in the fourth quarter valued at approximately $1,931,000. R Squared Ltd purchased a new position in The Descartes Systems Group in the fourth quarter worth approximately $90,000. Finally, Blue Trust Inc. increased its stake in The Descartes Systems Group by 61.1% during the fourth quarter. Blue Trust Inc. now owns 1,047 shares of the technology company's stock worth $119,000 after acquiring an additional 397 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company's stock.

The Descartes Systems Group Stock Performance

DSGX stock traded up $0.92 during mid-day trading on Friday, reaching $119.85. The company had a trading volume of 255,967 shares, compared to its average volume of 188,525. The Descartes Systems Group Inc. has a fifty-two week low of $84.12 and a fifty-two week high of $122.88. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 75.38 and a beta of 0.99. The firm has a fifty day simple moving average of $116.33 and a 200 day simple moving average of $108.12.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same quarter in the previous year, the company posted $0.31 earnings per share. As a group, analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DSGX shares. StockNews.com lowered The Descartes Systems Group from a "buy" rating to a "hold" rating in a research note on Thursday. Loop Capital began coverage on shares of The Descartes Systems Group in a research note on Tuesday, December 17th. They set a "buy" rating and a $140.00 target price for the company. Royal Bank of Canada boosted their price target on shares of The Descartes Systems Group from $115.00 to $133.00 and gave the company an "outperform" rating in a research note on Friday, November 29th. Scotiabank increased their price objective on shares of The Descartes Systems Group from $120.00 to $125.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets boosted their target price on The Descartes Systems Group from $104.00 to $120.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $117.92.

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.