Jennison Associates LLC Increases Stock Position in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Jennison Associates LLC increased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,415 shares of the technology company’s stock after purchasing an additional 3,202 shares during the quarter. Jennison Associates LLC owned 0.21% of The Descartes Systems Group worth $19,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group during the fourth quarter valued at about $54,000. GAMMA Investing LLC grew its stake in The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after purchasing an additional 495 shares in the last quarter. Blue Trust Inc. raised its position in shares of The Descartes Systems Group by 931.7% in the 3rd quarter. Blue Trust Inc. now owns 650 shares of the technology company’s stock valued at $63,000 after purchasing an additional 587 shares in the last quarter. R Squared Ltd purchased a new position in shares of The Descartes Systems Group during the 4th quarter valued at approximately $90,000. Finally, Avanza Fonder AB acquired a new stake in shares of The Descartes Systems Group during the fourth quarter worth approximately $118,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

The Descartes Systems Group stock opened at $117.43 on Thursday. The Descartes Systems Group Inc. has a one year low of $84.12 and a one year high of $122.88. The company has a 50-day simple moving average of $116.22 and a 200-day simple moving average of $107.91. The firm has a market capitalization of $10.05 billion, a P/E ratio of 73.86 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Tuesday, December 3rd. The technology company reported $0.42 EPS for the quarter, missing the consensus estimate 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 prior year, the firm posted $0.31 earnings per share. As a group, sell-side analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com cut shares of The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays raised The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $88.00 to $125.00 in a report on Friday, November 15th. Loop Capital initiated coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 target price on the stock. Finally, Scotiabank boosted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Descartes Systems Group has a consensus rating of “Moderate Buy” and an average 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.