Primecap Management Co. CA Decreases Stock Holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX)

Primecap Management Co. CA reduced its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 5.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,114,381 shares of the technology company’s stock after selling 124,172 shares during the quarter. Primecap Management Co. CA’s holdings in The Descartes Systems Group were worth $217,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DSGX. Price T Rowe Associates Inc. MD raised its stake in The Descartes Systems Group by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after acquiring an additional 278,796 shares in the last quarter. William Blair Investment Management LLC acquired a new position in The Descartes Systems Group in the second quarter valued at $20,608,000. Grandeur Peak Global Advisors LLC acquired a new position in The Descartes Systems Group in the first quarter valued at $19,264,000. Triasima Portfolio Management inc. increased its stake in The Descartes Systems Group by 90.1% in the second quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company’s stock valued at $24,584,000 after purchasing an additional 120,325 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in The Descartes Systems Group in the second quarter valued at $10,503,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.

The Descartes Systems Group Price Performance

Shares of NASDAQ DSGX opened at $114.13 on Thursday. The Descartes Systems Group Inc. has a 12-month low of $79.21 and a 12-month high of $117.24. The company has a market capitalization of $9.75 billion, a PE ratio of 77.11 and a beta of 0.97. The firm’s 50-day moving average is $105.92 and its two-hundred day moving average is $100.46.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business had revenue of $163.43 million during the quarter, compared to analysts’ expectations of $160.17 million. During the same period last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, analysts forecast that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DSGX shares. BMO Capital Markets lifted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the company a “market perform” rating in a research note on Thursday, September 5th. National Bank Financial upgraded shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of The Descartes Systems Group in a research note on Thursday, September 5th. Scotiabank boosted their price target on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group set a $108.00 price target on shares of The Descartes Systems Group and gave the stock a “buy” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Descartes Systems Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

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.