The Descartes Systems Group Inc. (NASDAQ:DSGX) Stock Position Decreased by Primecap Management Co. CA

Primecap Management Co. CA cut its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,342,953 shares of the technology company’s stock after selling 221,500 shares during the quarter. Primecap Management Co. CA owned 2.75% of The Descartes Systems Group worth $196,949,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DSGX. Raymond James Financial Services Advisors Inc. boosted its position in shares of The Descartes Systems Group by 19.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,107 shares of the technology company’s stock worth $228,000 after buying an additional 500 shares during the period. Signaturefd LLC boosted its position in shares of The Descartes Systems Group by 26.7% in the third quarter. Signaturefd LLC now owns 697 shares of the technology company’s stock worth $51,000 after buying an additional 147 shares during the period. Versor Investments LP acquired a new stake in shares of The Descartes Systems Group in the third quarter worth $253,000. Cidel Asset Management Inc. boosted its position in shares of The Descartes Systems Group by 13.6% in the third quarter. Cidel Asset Management Inc. now owns 90,487 shares of the technology company’s stock worth $6,672,000 after buying an additional 10,836 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of The Descartes Systems Group by 20.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 12,644 shares of the technology company’s stock worth $928,000 after buying an additional 2,152 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Trading Up 1.2 %

NASDAQ DSGX traded up $1.22 during trading on Friday, hitting $100.23. 131,013 shares of the company traded hands, compared to its average volume of 182,544. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $100.43. The business has a fifty day simple moving average of $93.73 and a 200 day simple moving average of $87.88. The company has a market capitalization of $8.55 billion, a P/E ratio of 74.80 and a beta of 0.91.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Equities research analysts predict that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Scotiabank increased their price objective on The Descartes Systems Group from $95.00 to $100.00 and gave the stock a “sector outperform” rating in a report on Thursday, March 7th. Royal Bank of Canada increased their price objective on The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets increased their price objective on The Descartes Systems Group from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. TD Securities increased their price objective on The Descartes Systems Group from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.30.

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.