Primecap Management Co. CA decreased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,114,381 shares of the technology company's stock after selling 124,172 shares during the period. Primecap Management Co. CA owned approximately 2.47% of The Descartes Systems Group worth $217,697,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of DSGX. Price T Rowe Associates Inc. MD raised its holdings in The Descartes Systems Group by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,602,572 shares of the technology company's stock valued at $695,864,000 after acquiring an additional 278,796 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in The Descartes Systems Group in the 2nd quarter valued at about $20,608,000. Grandeur Peak Global Advisors LLC acquired a new stake in shares of The Descartes Systems Group during the 1st quarter worth approximately $19,264,000. Triasima Portfolio Management inc. increased its holdings in shares of The Descartes Systems Group by 90.1% during the 2nd quarter. Triasima Portfolio Management inc. now owns 253,849 shares of the technology company's stock worth $24,584,000 after buying an additional 120,325 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of The Descartes Systems Group during the 2nd quarter worth approximately $10,503,000. Institutional investors and hedge funds own 77.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on DSGX. StockNews.com upgraded shares of The Descartes Systems Group from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Scotiabank raised 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 report on Thursday, October 24th. National Bankshares set a $125.00 price objective on shares of The Descartes Systems Group and gave the stock an "outperform" rating in a research report on Thursday, September 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, September 5th. Finally, BMO Capital Markets increased their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a "market perform" rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, The Descartes Systems Group has an average rating of "Moderate Buy" and an average price target of $109.25.
Check Out Our Latest Research Report on The Descartes Systems Group
The Descartes Systems Group Stock Up 0.5 %
Shares of DSGX stock opened at $114.13 on Thursday. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $117.24. The stock has a market capitalization of $9.75 billion, a PE ratio of 77.11 and a beta of 0.97. The firm has a 50 day moving average of $105.92 and a two-hundred day moving average of $100.46.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings results 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 business had revenue of $163.43 million during the quarter, compared to analysts' expectations of $160.17 million. The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The business's quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current fiscal year.
The Descartes Systems Group Profile
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Free Report)
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.
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