Primecap Management Co. CA Lowers Stock Holdings in The Descartes Systems Group Inc. $DSGX

Primecap Management Co. CA trimmed its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 16.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,490,153 shares of the technology company’s stock after selling 297,199 shares during the quarter. Primecap Management Co. CA’s holdings in The Descartes Systems Group were worth $151,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Alliance LLC increased its position in The Descartes Systems Group by 5.4% during the first quarter. Wealth Alliance LLC now owns 2,297 shares of the technology company’s stock valued at $232,000 after acquiring an additional 118 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of The Descartes Systems Group during the first quarter worth about $1,459,000. Royce & Associates LP raised its stake in The Descartes Systems Group by 4.6% during the 1st quarter. Royce & Associates LP now owns 45,965 shares of the technology company’s stock valued at $4,635,000 after purchasing an additional 2,008 shares during the period. Assetmark Inc. boosted its stake in The Descartes Systems Group by 19.2% in the 1st quarter. Assetmark Inc. now owns 11,045 shares of the technology company’s stock worth $1,114,000 after purchasing an additional 1,777 shares during the period. Finally, TD Asset Management Inc grew its holdings in The Descartes Systems Group by 1.6% during the 1st quarter. TD Asset Management Inc now owns 913,866 shares of the technology company’s stock valued at $92,014,000 after buying an additional 14,104 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on DSGX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Descartes Systems Group in a research note on Thursday, November 13th. Wall Street Zen raised The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Zacks Research raised The Descartes Systems Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. TD Cowen reaffirmed a “buy” rating and issued a $121.00 price objective on shares of The Descartes Systems Group in a research note on Friday, October 3rd. Finally, TD Securities assumed coverage on The Descartes Systems Group in a research report on Friday, October 3rd. They set a “buy” rating and a $121.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.70.

The Descartes Systems Group Price Performance

NASDAQ:DSGX opened at $79.38 on Thursday. The firm has a market cap of $6.83 billion, a PE ratio of 46.97 and a beta of 0.75. The company has a 50-day moving average of $93.37 and a 200 day moving average of $100.77. The Descartes Systems Group Inc. has a 1-year low of $78.88 and a 1-year high of $124.31.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last announced its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The Descartes Systems Group had a return on equity of 10.41% and a net margin of 21.64%.The business had revenue of $178.98 million during the quarter, compared to analysts’ expectations of $176.51 million. During the same period in the previous year, the company posted $0.40 EPS. The Descartes Systems Group’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

About The Descartes Systems Group

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.