The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its holdings in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 9.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,917,553 shares of the technology company’s stock after selling 196,828 shares during the period. Primecap Management Co. CA owned 2.24% of The Descartes Systems Group worth $217,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. raised its position in shares of The Descartes Systems Group by 301.7% during the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth about $43,000. Trust Co. of Vermont acquired a new stake in shares of The Descartes Systems Group during the 4th quarter worth about $54,000. GAMMA Investing LLC raised its position in shares of The Descartes Systems Group by 4,950.0% during the 4th quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock worth $57,000 after acquiring an additional 495 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of The Descartes Systems Group by 39.8% during the 4th quarter. Allworth Financial LP now owns 639 shares of the technology company’s stock worth $77,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Price Performance

The Descartes Systems Group stock opened at $100.21 on Tuesday. The Descartes Systems Group Inc. has a 1-year low of $87.20 and a 1-year high of $124.31. The company has a market cap of $8.58 billion, a PE ratio of 63.03 and a beta of 0.99. The stock’s 50 day moving average price is $112.73 and its 200 day moving average price is $110.18.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $169.97 million. On average, equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on DSGX. Loop Capital began coverage on The Descartes Systems Group in a research report on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target on the stock. StockNews.com lowered The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays cut their price target on The Descartes Systems Group from $125.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. TD Securities lifted their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Scotiabank lifted their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.33.

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.