The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274,103 shares of the technology company’s stock after acquiring an additional 30,303 shares during the period. Principal Financial Group Inc.’s holdings in The Descartes Systems Group were worth $26,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DSGX. Norges Bank acquired a new stake in The Descartes Systems Group during the fourth quarter worth about $92,571,000. Westfield Capital Management Co. LP purchased a new position in The Descartes Systems Group during the first quarter worth approximately $47,481,000. Clearbridge Investments LLC purchased a new position in The Descartes Systems Group during the fourth quarter worth approximately $36,767,000. Price T Rowe Associates Inc. MD boosted its position in The Descartes Systems Group by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company’s stock worth $695,864,000 after purchasing an additional 278,796 shares in the last quarter. Finally, Riverbridge Partners LLC boosted its position in The Descartes Systems Group by 36.6% during the first quarter. Riverbridge Partners LLC now owns 976,613 shares of the technology company’s stock worth $89,389,000 after purchasing an additional 261,688 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank increased 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. Barclays increased their price target on The Descartes Systems Group from $75.00 to $87.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Royal Bank of Canada increased their price target on The Descartes Systems Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. CIBC raised their target price on The Descartes Systems Group from $101.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Finally, Raymond James raised their target price on The Descartes Systems Group from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.00.

The Descartes Systems Group Stock Performance

Shares of The Descartes Systems Group stock opened at $100.89 on Monday. The Descartes Systems Group Inc. has a one year low of $69.59 and a one year high of $104.71. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 72.06 and a beta of 0.98. The business’s 50 day moving average price is $98.84 and its 200 day moving average price is $94.76.

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.