Primecap Management Co. CA Sells 307,013 Shares of The Descartes Systems Group Inc. $DSGX

Primecap Management Co. CA lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 20.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,183,140 shares of the technology company’s stock after selling 307,013 shares during the period. Primecap Management Co. CA’s holdings in The Descartes Systems Group were worth $111,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mather Group LLC. bought a new stake in shares of The Descartes Systems Group in the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. raised its holdings in The Descartes Systems Group by 77.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 570 shares of the technology company’s stock valued at $58,000 after acquiring an additional 248 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of The Descartes Systems Group by 24.8% during the 3rd quarter. Versant Capital Management Inc now owns 660 shares of the technology company’s stock valued at $62,000 after acquiring an additional 131 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth $68,000. Finally, GAMMA Investing LLC increased its position in shares of The Descartes Systems Group by 42.1% in the third quarter. GAMMA Investing LLC now owns 884 shares of the technology company’s stock worth $83,000 after purchasing an additional 262 shares during the period. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 4.9%

DSGX stock opened at $67.81 on Friday. The firm has a 50-day moving average price of $78.33 and a 200-day moving average price of $88.40. The Descartes Systems Group Inc. has a 12 month low of $62.56 and a 12 month high of $117.35. The stock has a market capitalization of $5.83 billion, a P/E ratio of 38.31 and a beta of 0.75.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $186.78 million during the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a net margin of 22.10% and a return on equity of 10.57%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. As a group, equities analysts predict that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

DSGX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Monday, December 29th. BMO Capital Markets decreased their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. TD Securities raised shares of The Descartes Systems Group to a “strong-buy” rating in a report on Friday, December 5th. Scotiabank reduced their price target on shares of The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. Finally, Barclays raised shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $106.00 to $105.00 in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, The Descartes Systems Group currently has a consensus rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.