Primecap Management Co. CA Sells 51,200 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Primecap Management Co. CA trimmed its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 2.2% during the second quarter, HoldingsChannel.com reports. The firm owned 2,238,553 shares of the technology company’s stock after selling 51,200 shares during the quarter. Primecap Management Co. CA’s holdings in The Descartes Systems Group were worth $216,781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DSGX. Central Pacific Bank Trust Division acquired a new stake in The Descartes Systems Group in the 1st quarter valued at approximately $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at approximately $27,000. Accent Capital Management LLC acquired a new stake in shares of The Descartes Systems Group in the fourth quarter valued at approximately $32,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of The Descartes Systems Group by 703.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 490 shares of the technology company’s stock worth $45,000 after purchasing an additional 429 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new position in The Descartes Systems Group during the second quarter worth $61,000. 77.73% of the stock is owned by institutional investors and hedge funds.

The Descartes Systems Group Trading Up 1.3 %

Shares of NASDAQ DSGX opened at $99.55 on Tuesday. The Descartes Systems Group Inc. has a 12 month low of $69.59 and a 12 month high of $104.71. The stock has a 50 day moving average of $98.89 and a 200-day moving average of $95.63. The company has a market capitalization of $8.50 billion, a P/E ratio of 71.11 and a beta of 0.98.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $163.43 million during the quarter, compared to analyst estimates of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The Descartes Systems Group’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Analysts predict that The Descartes Systems Group Inc. will post 1.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. CIBC boosted their price target on shares of The Descartes Systems Group from $101.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Stephens upped their target price on The Descartes Systems Group from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Canaccord Genuity Group set a $108.00 price target on The Descartes Systems Group and gave the company a “buy” rating in a research report on Thursday, September 5th. Scotiabank boosted their price target on The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 31st. Finally, BMO Capital Markets increased their price objective on The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.00.

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.