Alliancebernstein L.P. Trims Stake in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Alliancebernstein L.P. lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 21.9% during the 4th quarter, HoldingsChannel reports. The fund owned 195,757 shares of the technology company’s stock after selling 54,835 shares during the quarter. Alliancebernstein L.P.’s holdings in The Descartes Systems Group were worth $22,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DSGX. FMR LLC raised its holdings in The Descartes Systems Group by 2.8% in the 3rd quarter. FMR LLC now owns 150,654 shares of the technology company’s stock worth $15,503,000 after purchasing an additional 4,067 shares during the period. BNP Paribas Financial Markets bought a new position in shares of The Descartes Systems Group in the third quarter worth about $926,000. Verition Fund Management LLC purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at about $313,000. Royal London Asset Management Ltd. purchased a new position in shares of The Descartes Systems Group during the 3rd quarter valued at about $5,017,000. Finally, Quantinno Capital Management LP increased its holdings in The Descartes Systems Group by 7.0% in the 3rd quarter. Quantinno Capital Management LP now owns 5,578 shares of the technology company’s stock worth $574,000 after acquiring an additional 364 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

Shares of DSGX opened at $96.02 on Tuesday. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 60.39 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 business’s 50 day simple moving average is $108.14 and its 200-day simple moving average is $110.43.

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

Wall Street Analysts Forecast Growth

DSGX has been the topic of several analyst reports. BMO Capital Markets lowered their price target on shares of The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. CIBC dropped their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Loop Capital assumed coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. Scotiabank boosted their price objective on The Descartes Systems Group from $125.00 to $127.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 26th. Finally, StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.50.

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.